Namao, 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
1. Current Market Conditions and Trends
The real estate market in Namao, Alberta, is currently experiencing steady growth. With a median house price of $500,000, the market has seen a 3.5% year-over-year increase. This suggests a healthy demand for single-family homes that reflects a robust local economy and an attractive lifestyle offering.
In the apartment sector, the median apartment price stands at $300,000, with a slower yet consistent growth rate of 2.1% year-over-year. The smaller increase in apartment prices may indicate a larger inventory or a slower rate of demand growth compared to houses.
The population of Namao sits at approximately 15,000 residents, with an impressive growth rate of 7.1%. A growing population is frequently a positive indicator for real estate markets as it tends to drive demand for housing.
2. Investment Opportunities and Potential
The consistent growth in house prices combined with the substantial population increase suggests that Namao holds promising investment opportunities. Investors might consider capitalizing on the single-family home market which is showing stronger growth relative to apartments.
Moreover, the positive population trend indicates potential for rental properties to meet the demands of newcomers to the area. Both long-term rental strategies and short-term investment flips could be viable given the market conditions.
Apartments, while showing slower growth, might offer more affordable entry points for investors and could appeal to first-time homebuyers or those looking to downsize. As such, they represent an opportunity for diversification within an investor’s real estate portfolio.
3. Future Market Outlook
The future outlook for Namao’s real estate market appears optimistic. Given the strong population growth and steady increases in property values, it is reasonable to anticipate continued demand for housing in both sectors.
If current economic conditions persist and no major shifts occur in interest rates or employment levels within the region, one can expect further incremental growth in property values. With ongoing development and infrastructure improvements potentially on the horizon due to population pressures, there may also be new openings for real estate development and investment.
Cautious monitoring of economic indicators and market trends will be essential for maximizing investment returns and making strategic decisions in this evolving market.
