Pembina, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
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 | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Pembina, Alberta currently reflects a steady growth pattern. The median house price sits at $485,000, with a year-over-year increase of 3.2%. This indicates a healthy demand for single-family homes in the area, which can be attributed to the region’s economic stability and appealing living conditions. Meanwhile, the median apartment price is $295,000, experiencing a slightly lower increase of 2.5% year-over-year. This suggests that while the apartment market is growing, it is doing so at a more modest pace compared to houses.
The local population has reached approximately 15,500 residents with a growth rate of 3.3%. This demographic trend underpins the demand for housing and can be seen as a positive driver for both rental and purchase markets. The steady population influx likely results from employment opportunities in the region and its quality of life.
Investment Opportunities and Potential
The current trends in Pembina’s real estate market present several attractive investment opportunities. The continuous appreciation in property values, evidenced by the median house price increase, suggests that investment in residential properties could yield solid returns over time. For investors looking into rental properties or developments, the consistent population growth provides a growing customer base.
Given the lower percentage increase in apartment prices, investors might find this segment particularly appealing due to potentially higher yields on rentals versus initial investment costs. With careful market analysis and property management, investing in apartments could cater to professionals and small families drawn by Pembina’s growing economy.
Future Market Outlook
Looking ahead, Pembina’s real estate market appears poised for continued growth. Factors such as ongoing population increases and stable economic conditions are expected to sustain demand for both houses and apartments. If these demographic and economic trends persist, we can anticipate further property value appreciation across the market.
However, investors should remain cognizant of broader economic factors that may influence interest rates and construction costs, which in turn could affect housing affordability and investment returns. Monitoring local developments regarding infrastructure projects or significant changes within key industries will also be crucial for accurately forecasting future market movements.
In conclusion, Pembina presents itself as a robust market with favorable conditions for real estate investments. While current trends point towards ongoing appreciation and strong demand, diligent analysis and an awareness of external influences are recommended to maximize potential returns.
