Parkland, 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 Parkland, Alberta, reflects a stable growth trend, with the median house price currently standing at $500,000, marking a year-over-year increase of 3.5%. This consistent growth indicates a healthy demand for housing in the area. Similarly, the median apartment price has experienced a steady rise to $300,000, up by 2.1% from the previous year. The positive price trends for both houses and apartments suggest that Parkland’s real estate market is experiencing a balanced expansion.
With a population of 15,000 that has grown by 7.1%, Parkland is evidently attracting new residents and potential buyers. This demographic expansion can be attributed to various factors such as employment opportunities, quality of life, and an attractive residential environment. The influx of new residents is likely contributing to the demand for housing and supporting the upward trajectory of property values in the region.
Investment Opportunities and Potential
The current market conditions present several attractive investment opportunities within Parkland. The steady increase in property values offers potential for capital appreciation over time. Investors looking to capitalize on rental income may find the growing population particularly appealing as it signifies a rising demand for rental units.
The sustained growth in apartment prices also presents an enticing entry point for investors focusing on multifamily properties or seeking lower-cost investment alternatives to traditional houses. With apartment values increasing at a more moderate rate of 2.1% year-over-year compared to houses, there is potential for these investments to appeal to a broader range of tenants and maintain high occupancy rates.
Future Market Outlook
Looking ahead, Parkland’s real estate market appears poised for continued growth. The robust population increase of 7.1% serves as a strong indicator of sustained demand for housing in both the short and long term. Should these demographic trends persist alongside economic stability, it is reasonable to anticipate further appreciation in property values.
However, investors and potential homeowners should remain mindful of broader economic factors that could impact interest rates and affordability—elements that could potentially slow market momentum. Careful consideration should also be given to local developments such as infrastructure projects or changes in zoning laws which could influence future market dynamics in Parkland.
In conclusion, Parkland offers solid investment opportunities characterized by steady growth and demographic expansion. While current trends point towards a favorable outlook, vigilance regarding macroeconomic factors remains essential for those participating in this market.
