Ohaton, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Ohaton, Alberta is experiencing steady growth, as evidenced by the increase in property values. The median house price in the area currently stands at $500,000, marking a year-over-year increase of 3.5%. This suggests a healthy demand for single-family homes and a competitive market for buyers. Meanwhile, the median apartment price is $300,000, with a more modest year-over-year appreciation of 2.1%. This difference in growth rates indicates that houses are in higher demand than apartments, potentially due to buyer preference for more space or family-oriented living arrangements.
Investment Opportunities and Potential
Ohaton’s real estate market presents promising investment opportunities. The steady increase in property values suggests that investments in both houses and apartments could yield positive returns. Given the population growth rate of 7.1%, which is significantly higher than national averages, there is potential for increased rental demand as well. Investors may consider purchasing residential properties to cater to this growing population or looking into development projects that can provide additional housing options.
Future Market Outlook
The future outlook of Ohaton’s real estate market remains optimistic. With an expanding population currently at 15,000, the demand for housing is expected to rise. The consistent growth in house prices at an annual rate of 3.5% indicates a robust market that may continue to thrive due to ongoing local economic development and influx of new residents seeking accommodation. The smaller annual increase in apartment prices suggests that while there is interest in these types of properties, the market is not as heated as for houses, which may represent an opening for investors to tap into before trends shift.
In conclusion, Ohaton’s real estate market offers stable growth prospects and desirable investment opportunities against the backdrop of a flourishing population and economic landscape. However, investors should remain vigilant about changing market dynamics and consider both current trends and long-term community planning when making investment decisions.
