Looma, 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
In Looma, Alberta, the real estate market is currently experiencing steady growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes in the region. Similarly, the apartment sector is also witnessing growth with the median apartment price at $300,000 and an appreciation of 2.1% from the previous year. This suggests that while the market for detached homes is stronger, there is also a consistent interest in more affordable and potentially lower-maintenance living spaces represented by apartments.
Investment Opportunities and Potential
Looma’s real estate market offers promising investment opportunities. Considering the positive trend in housing prices and the moderate increase in apartment values, investors can expect a stable return on investment in both sectors. The detached housing market, in particular, shows robust potential due to its higher annual price increase. With a population of 15,000 that has grown by 7.1%, there is an expanding base of potential renters or buyers, especially as Looma continues to attract new residents due to economic or lifestyle factors.
Future Market Outlook
The future outlook for Looma’s real estate market appears optimistic. The steady population growth rate of 7.1% not only drives housing demand but also supports community development and enhances local amenities – making Looma an increasingly attractive location for new residents and investors alike. If current trends persist, we can expect continued appreciation in property values across different segments of the market. However, it will be crucial for investors to monitor economic conditions and local developments closely as they may influence buyer sentiment and housing demand in unforeseen ways.
