Ponoka, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $485,000 |
Monthly growth | 1.1% |
Quarterly trend | 4.0% |
Stock on market | 0.7% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.5% |
Stock on market | 1.1% |
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 | $320,000 |
3 bedrooms | $425,000 |
Demographics
Current Population (2025) | 15,000 |
Previous Population (2020) | 14,500 |
Population Change | 3.4% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,600 |
Population Density (per km²) | 1.5 |
Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Ponoka, Alberta, is currently experiencing steady growth, as indicated by the year-over-year increases in property values. The median house price stands at $485,000, marking a 4% increase from the previous year. This suggests a healthy demand for single-family homes in the area. Similarly, apartment properties have seen a rise in their median price to $295,000, with a slightly lower yet positive trend of 2.5% year-over-year growth. Such incremental growth indicates a balanced market that is neither overheating nor cooling down excessively.
2. Investment Opportunities and Potential
With its consistent growth rate and manageable population expansion of 3.4%, Ponoka presents itself as an appealing location for both residential and buy-to-rent investments. The steady increase in property values suggests that investing in real estate here could yield profitable returns over time. Moreover, the relatively affordable median apartment price compared to other regions provides an excellent entry point for investors looking to capitalize on the rental market, especially considering the increasing population which may lead to higher rental demand.
3. Future Market Outlook
The future outlook for Ponoka’s real estate market appears promising. Assuming current trends continue, we can anticipate ongoing moderate growth in property values across both houses and apartments. The town’s population of 15,000 is on an upward trajectory, which will likely contribute to sustained demand for housing. It’s important for potential investors to consider the impact of local economic factors and national policy changes on the real estate market. However, given Ponoka’s performance and the positive economic indicators, it seems poised for continued steady growth in the foreseeable future.