Obed, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.9% |
| 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 | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $410,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,000 |
| Population Change | 5.1% |
| 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 Obed, Alberta, is experiencing steady growth with the median house price currently standing at $485,000, reflecting a year-over-year increase of 2.9%. This indicates a healthy demand for housing in the area, likely driven by the region’s economic stability and attractive living conditions. Simultaneously, the apartment sector is also showing positive movement with the median apartment price at $295,000, which saw a more modest year-over-year growth of 1.8%. These trends suggest balanced market conditions that are favorable for both buyers and sellers.
Investment Opportunities and Potential
Obed’s growing population, currently at 15,200 with a notable growth rate of 5.14%, points to an increasing demand for housing. The consistent rise in property values presents lucrative investment opportunities particularly in residential real estate. Investors could capitalize on the upward trend in house prices by acquiring properties to hold for long-term appreciation or to rent out in what appears to be a tightening rental market. The apartment sector could also be appealing for those looking to enter the market at a lower price point or diversify their portfolio with properties that have shown steady price appreciation.
Future Market Outlook
The future outlook for the Obed real estate market remains optimistic. Given the solid population growth, sustained property value increases, and economic fundamentals of the area, we can reasonably expect continued demand for housing. This is likely to further drive property prices up over time, albeit at a sustainable rate. For potential investors and homebuyers alike, entering the market now could be advantageous before prices escalate further due to ongoing demand pressures. However, as with any investment, it’s crucial to conduct thorough research and consider local market dynamics before making any financial commitments.
