Lacombe, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Lacombe, Alberta, is currently characterized by moderate growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is demonstrating steady appreciation in property values. Similarly, the apartment sector has seen a year-over-year increase of 2.1%, with the median price at $300,000. This consistent growth indicates a stable housing market.
The population of Lacombe stands at approximately 15,000 residents and has experienced a robust growth rate of 7.1%. This demographic expansion suggests that demand for housing will continue to rise, potentially leading to tighter inventory and upward pressure on prices in the long term if new construction does not keep pace.
Investment Opportunities and Potential
In light of current trends, investment opportunities within Lacombe’s real estate market appear promising. The steady increase in property values for both houses and apartments points to a healthy investment environment. Investors may find particular interest in the single-family home market due to its higher growth rate.
The strong population growth indicates an increasing demand for rental properties as well. Therefore, purchasing residential properties to rent out could be a viable strategy for investors seeking regular income streams and long-term capital appreciation.
Given that the price increases are moderate rather than exponential, there is potential for investors to enter the market without the risks associated with overheated markets. Lacombe’s real estate could appeal to those looking for stable investments outside of larger urban centers.
Future Market Outlook
The future outlook for Lacombe’s real estate market remains positive. The consistent price growth across housing types bodes well for sustained market health. If population growth continues at its current pace or accelerates due to economic factors or migration trends, demand for housing is likely to increase further.
Potential investors and homeowners alike should monitor local economic developments, as any increase in employment opportunities within Lacombe or nearby regions could further stimulate the housing market. Additionally, monitoring planning and development initiatives by local government will provide insight into whether new housing supply will meet growing demand.
While no market is without risk, current indicators suggest that Lacombe’s real estate market is poised for continued growth over the medium term. Prospective buyers may want to capitalize on current conditions before any significant changes occur in pricing trends or interest rates.
