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
Current Market Conditions and Trends
The real estate market in Namao, Alberta is experiencing steady growth. With a median house price of $500,000 and an annual appreciation trend of 3.5%, the market exhibits a healthy increase in property values. Similarly, the median apartment price stands at $300,000, which has seen a slightly lower year-over-year increase of 2.1%. This consistent growth in property values is indicative of a stable and growing real estate market.
The robust population growth of 7.1% in Namao is also contributing to the demand for housing. An expanding population often leads to increased demand for both ownership and rental properties, suggesting a vibrant local economy that could sustain ongoing interest in residential real estate.
Investment Opportunities and Potential
Given the steady rise in property prices and the significant population growth, Namao presents itself as a compelling location for real estate investment. The consistent appreciation in house and apartment prices indicates potential for capital gains over the long term. Investors looking to enter the market may find opportunities in single-family homes, given their higher year-over-year price increase compared to apartments.
Additionally, with the population expanding rapidly, there is potential for investors to cater to new residents through the development of multi-family units or by purchasing and renting out existing properties. The current trends suggest that both rental and resale markets may have room for growth, offering multiple avenues for investment returns.
Future Market Outlook
The future outlook for Namao’s real estate market appears optimistic. If the current trends continue, with steady property value increases and robust population growth, demand for housing is likely to remain strong. This bodes well for both homeowners looking to build equity over time and investors seeking rental income or capital appreciation.
However, investors should remain attentive to broader economic indicators and local developments that could impact the market. These include employment rates, infrastructure projects, interest rates, and any regulatory changes affecting property ownership or tenancy laws.
In conclusion, Namao’s real estate market shows clear signs of healthy activity and potential for future growth. As always, careful consideration of personal investment goals and risk tolerance should guide any real estate investment decision.
