Notikewin, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $410,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $420,000 |
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 a steady growth trajectory. The median house price sits at $485,000, with a year-over-year increase of 3%. This indicates a stable and moderately competitive market for houses. Similarly, the median apartment price is $295,000, with a slightly lower year-over-year growth rate of 2.5%. The consistent growth in property values suggests that the market is healthy and likely to maintain its upward trend, barring any unforeseen economic shifts.
The population of Notikewin has shown significant growth at a rate of 3.3%, which currently stands at 15,500 residents. This increase in population is contributing to the demand for housing, thereby supporting the continuous appreciation of property values in the region.
Investment Opportunities and Potential
The current market conditions in Notikewin present promising investment opportunities. The consistent rise in property values coupled with the strong population growth signals potential for long-term capital gains for investors. The more moderate price increase for apartments compared to houses suggests that there might be an opportunity for investors to enter the market at a lower price point with apartments.
Moreover, the positive population trend implies a growing demand for rental properties, making it an opportune time for investors to consider purchasing rental units to cater to this burgeoning demographic.
Future Market Outlook
The outlook on the Notikewin real estate market appears optimistic based on current trends and data. If the population continues to grow at its current pace or higher, demand for housing will likely increase correspondingly. Given that both the housing and apartment markets have seen steady increases in prices, it can be inferred that investing in Notikewin real estate could be beneficial for both short-term gains through flipping properties and long-term investments through rental income.
However, it’s important for potential investors to take into account external economic factors that could impact these projections such as changes in interest rates, employment rates within the province, and broader national economic trends that could affect housing markets across Canada.
