Onoway, 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 Onoway, Alberta, is currently experiencing moderate growth. With a median house price of $500,000 and an annual appreciation rate of 3.5%, the housing market is showing healthy signs of development. The median apartment price stands at $300,000, with a slightly lower year-over-year increase of 2.1%. These trends suggest a stable investment environment for both houses and apartments.
The population of Onoway has reached approximately 15,000 residents, with a robust growth rate of 7.1%. This demographic expansion indicates an increasing demand for housing and potential upward pressure on property prices in the near future.
Investment Opportunities and Potential
In light of current market conditions, Onoway offers promising investment opportunities. The steady increase in property values presents potential for capital gains over time. For investors interested in rental properties, the population growth could translate into higher demand for rental units, potentially leading to favorable rental yields.
Given the more modest price point of apartments compared to houses, coupled with their lower but consistent appreciation rate, apartments might appeal to investors seeking more affordable entry points into the real estate market or diversification within their portfolio.
Future Market Outlook
The future outlook for Onoway’s real estate market remains optimistic. Population growth is likely to sustain housing demand, supporting further property value increases. If current trends persist, both the house and apartment markets can expect continued gradual growth in prices.
While historical data indicates stability, it is essential for potential investors to consider local economic factors, infrastructure developments, and regional policies that may impact future market performance. Vigilant monitoring of these factors will be crucial for making informed investment decisions in Onoway’s evolving real estate landscape.
