Norglenwold, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| 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 | $460,000 |
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 real estate market in Norglenwold, Alberta, currently presents a steady growth pattern. The median house price stands at $525,000, which marks a 4% increase year-over-year. This growth indicates a robust demand for single-family homes and suggests that the market is in a healthy state. Similarly, apartments are showing a positive trend with the median price at $315,000, experiencing a 2.5% year-over-year growth.
The population of Norglenwold has reached 15,200 residents, growing by 4.8%. This population increase is likely contributing to the demand for housing and can be seen as a key driver behind the upward trends in property values.
Investment Opportunities and Potential
The current trends indicate potential investment opportunities in both the house and apartment markets in Norglenwold. The continuous population growth paired with the steady increase in property prices could suggest a strong rental market potential. Investors might find this an opportune time to purchase residential properties to cater to the growing population seeking housing.
The 4% annual increase in house prices also provides an opportunity for capital gains for longer-term investments. The stable growth pattern suggests that investing now could yield profitable returns as the market continues to rise at a sustainable pace.
Future Market Outlook
The future market outlook for Norglenwold’s real estate appears promising. Given the substantial population growth of 4.8%, it is expected that demand for housing will continue to rise, which should support continued appreciation in property values. Assuming no major economic disruptions occur, both the house and apartment markets are likely to maintain their upward trajectories.
The ongoing development and potential infrastructure improvements could also play pivotal roles in sustaining long-term growth within the region’s real estate market. Overall, Norglenwold presents as an attractive market for both homeowners looking to settle in a growing community and investors seeking to capitalize on the positive market trends.
