Normandville, 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 Normanville, Alberta, currently presents a stable environment for both buyers and sellers. The median house price within the area stands at $500,000, with a year-over-year increase of 3.5%. This growth rate suggests moderate appreciation in property values, reflecting a healthy demand for housing. Meanwhile, the median apartment price is $300,000, displaying a more modest year-over-year growth of 2.1%. This slower rate could indicate that the apartment market is more accessible for first-time buyers and investors seeking lower entry points into the real estate market.
Investment Opportunities and Potential
Given the steady appreciation of house prices and the consistent growth in apartment values, Normanville offers promising investment opportunities. The town’s population has grown by 7.1%, which is significantly higher than national averages, hinting at an increasing demand for housing. Investors can take advantage of this population surge by focusing on residential properties that are likely to benefit from rising rental demands or capitalizing on long-term property value appreciation.
Future Market Outlook
The future market outlook for Normanville is cautiously optimistic given the current trends and underlying demographic shifts. The sustained population growth of 7.1% will likely continue to drive demand for housing across both segments—houses and apartments. Assuming that economic conditions remain favorable and no significant disruptions occur, such as major policy changes or economic downturns, Normanville’s real estate market should maintain its trajectory of steady growth. However, potential investors and homeowners should monitor local developments closely, as small markets can be sensitive to changes in employment rates, infrastructure projects, and regional economic health.
