Obed, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.6% |
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 | $420,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
As of the latest data, the real estate market in Obed, Alberta is experiencing a steady growth phase. The median house price currently stands at $485,000, which marks a year-over-year increase of 3%. This suggests that the housing market continues to appreciate at a moderate pace. In contrast, the median apartment price is somewhat lower, positioned at $295,000, with a slightly softer year-over-year growth rate of 1.8%. This difference in growth rates may indicate a more significant demand for houses over apartments, or potentially reflect a different rate of supply increases between these two housing types.
Investment Opportunities and Potential
The ongoing appreciation in property values indicates a healthy demand for real estate in Obed. For investors looking to enter the market, this presents an opportunity to capitalize on the consistent growth trends. Given that houses are appreciating faster than apartments, investment in single-family homes could offer better capital gains. However, apartments might be appealing due to their more accessible price point and potential for rental income, particularly if there’s a segment of the population seeking temporary or more affordable housing solutions. With the area’s population having grown by 4.8%, there may also be an increased demand for rental properties as new residents seek accommodation.
Future Market Outlook
The future real estate market outlook for Obed, Alberta appears optimistic. Population growth remains robust at 4.8%, which is likely to continue driving demand for housing in the region. If this growth persists, we can expect sustained pressure on housing supply, potentially leading to further price increases for both houses and apartments over time.
In addition to demographic trends, economic factors such as employment opportunities and interest rates will play crucial roles in shaping the market’s trajectory. Investors and prospective homebuyers should consider these elements alongside population dynamics when evaluating long-term prospects for real estate investments in Obed.
