Notikewin, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.5% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.8% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $400,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| 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 Notikewin, Alberta is currently experiencing moderate growth. With a median house price of $485,000, which reflects a year-over-year increase of 2.5%, the market is showing steady upward momentum. This growth rate suggests a healthy demand for single-family homes in the area.
On the other hand, apartments are also seeing an uptick in prices but at a slightly more conservative pace. The median apartment price stands at $295,000, marking a 1.8% rise from the previous year. This trend indicates that while there is growth in the multi-family unit segment, it is less pronounced compared to standalone houses.
Notikewin’s population has grown by 3.3% to 15,500 residents, indicating a robust demographic expansion that could further drive housing demand. Therefore, current market conditions are characterized by steady price growth and increasing population that may contribute to sustained demand for housing in both private homes and apartment sectors.
Investment Opportunities and Potential
The prevailing market conditions suggest several investment opportunities within Notikewin’s real estate sector. Given the consistent increase in median house prices and the stable rise in apartment values, investors might find long-term capital appreciation prospects within these segments.
The ongoing population growth further bolsters the potential for rental property investments as newcomers will likely add to rental demand before committing to purchasing properties. Moreover, with single-family homes appreciating at a faster rate than apartments, investors could potentially benefit from targeting this segment for resale value gains.
In addition to residential properties, the expanding population might also indicate opportunities for developing or investing in real estate sectors that serve community needs such as retail spaces, office buildings, and other commercial properties.
Future Market Outlook
Looking ahead, Notikewin’s real estate market appears poised for continued growth. The combination of solid population increases and steady housing price trends signals that demand will remain robust.
If current demographic and economic factors persist, we can expect further gradual increases in property values across both houses and apartments. However, prospective investors should stay aware of regional economic developments and national policy changes that may affect mortgage rates or consumer confidence.
Given these considerations, Notikewin’s future market outlook remains optimistic with expected stable growth making it an attractive destination for both homebuyers and investors alike.
