Normandville, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
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 | $480,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,100 |
| 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 Normandville, Alberta is currently experiencing steady growth. With a median house price of $525,000, the market has seen a year-over-year increase of 4.2%. This indicates a healthy demand for single-family homes in the region. Similarly, the median apartment price stands at $315,000, with a slightly lower year-over-year growth rate of 2.5%. These figures suggest that while the apartment sector is growing, it is doing so at a more modest pace compared to houses.
The population of Normandville has reached approximately 15,500, accompanied by a robust growth rate of 3.3%. This demographic expansion contributes to the demand for housing, influencing both rental and buyer markets. The current trends point towards a competitive market environment where inventory may struggle to keep up with the inflow of new residents and investors.
Investment Opportunities and Potential
Normandille’s consistent population increase coupled with its positive housing price trends presents attractive opportunities for real estate investors. Single-family homes appear particularly promising due to their higher appreciation rate. Additionally, with the burgeoning population, rental properties are likely to be in high demand, suggesting that investors might also see value in purchasing apartments to service this segment.
The ongoing development in Normandville suggests potential for new construction investments as well. Developers could find opportunities in both residential and mixed-use projects to meet the diverse needs of the growing populace. Moreover, given the current price trends, there is room for capital gains in both housing segments over the mid to long term if these growth rates persist.
Future Market Outlook
Moving forward, Normandville’s real estate market displays promising signs for sustained growth. If the population continues to rise at or above its current rate of 3.3%, demand for housing will likely remain strong. The year-over-year increases in property values reinforce this optimistic outlook and suggest that prices may continue on an upward trajectory.
This positive forecast is tempered by external economic factors such as interest rates, employment rates, and regional economic stability which can impact buyer affordability and investment activity. However, assuming stable conditions, Normandville’s real estate market should continue to offer beneficial prospects for both homeowners and investors alike.
In conclusion, Normandville presents itself as an emerging market with sound investment potential rooted in its robust population growth and consistent upward trend in property values. Stakeholders are encouraged to monitor this market closely for signs of sustained momentum or shifts influenced by broader economic variables.
