Norglenwold, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $315,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $475,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The current real estate market in Norglenwold, Alberta is showing a steady increase in property values. The median house price stands at $525,000, with a year-over-year growth of 4%. This suggests a healthy demand for houses in the region, possibly driven by favorable economic conditions or an influx of new residents. The apartment sector is also experiencing growth, albeit at a slightly slower pace, with the median apartment price at $315,000 and a trend of 2.5% year-over-year growth.
Investment Opportunities and Potential
In light of the current growth trends, Norglenwold presents several attractive investment opportunities. The steady increase in housing prices indicates that there is potential for capital appreciation over time. Investors may consider purchasing residential properties to either rent out or hold onto for future sale at higher prices. Given the population growth rate of 4.8%, there is likely to be sustained demand for housing, which bodes well for both rental and resale markets.
Future Market Outlook
The future outlook for Norglenwold’s real estate market appears positive. With a significant population growth rate of 4.8%, it’s reasonable to expect continued demand for housing. If local economic conditions remain favorable and support the current population trend, we can anticipate further increases in property values. However, potential investors should also be mindful of external economic factors that could affect the market, such as interest rate changes or broader economic shifts.
