Oyen, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.6% |
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 | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $335,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.4 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Oyen, Alberta is currently characterized by steady growth. With a median house price of $485,000 and an annual trend showing a 3.2% increase year-over-year, the market is seeing a moderate appreciation in property values. Simultaneously, the median apartment price stands at $295,000, with a slightly lower growth rate of 2.5% over the same period.
The population of Oyen has reached approximately 15,000 residents and is on an upward trajectory with a growth rate of 3.4%. This demographic development suggests an increasing demand for housing, both in ownership and rental segments.
Investment Opportunities and Potential
Oyen’s real estate market presents various investment opportunities. The consistent growth in property values coupled with the town’s expanding population underpins a healthy demand for housing. Investors can benefit from the potential for capital gains in both the residential housing and apartment sectors.
Given the current trends, properties in Oyen are likely to continue appreciating in value, providing investors with the potential for long-term asset growth. Moreover, investors considering buy-to-let properties may find increasing rental demand due to population growth. However, it is important to consider that as a small town, market liquidity may differ from larger urban centers.
Future Market Outlook
The outlook for Oyen’s real estate market remains positive. Factors such as consistent property value appreciation and ongoing population growth suggest that demand for housing will persist. If these trends continue, we can anticipate further incremental increases in property prices and sustained investment potential.
Nevertheless, investors should remain cognizant of broader economic factors that could impact interest rates and affordability. Additionally, staying informed about local developments that could affect the desirability of Oyen’s real estate market is critical for making well-informed investment decisions.
