Sangudo, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Sangudo, Alberta is currently experiencing a period of growth with the median house price standing at $500,000, reflecting a year-over-year increase of 3.5%. This steady appreciation indicates a healthy demand for housing in the area. Similarly, apartments are also seeing an upward trend with a median price of $300,000 and an annual growth rate of 2.1%. The population of Sangudo has reached 15,000 residents, with a robust population growth rate of 7.1%, suggesting that the local economy is likely to be expanding and drawing new residents looking for employment opportunities and quality of life.
Investment Opportunities and Potential
The consistent rise in property values coupled with substantial population growth suggests that Sangudo could offer promising investment opportunities. The housing market’s resilience indicates potential for long-term capital gains on residential properties. Investors might consider targeting single-family homes given their higher appreciation rate or seek to enter the apartment market where there’s likely ongoing demand due to the influx of new residents. Additionally, rental properties could benefit from the growing population as newcomers may look for temporary housing solutions before committing to homeownership.
Future Market Outlook
Looking forward, the Sangudo real estate market appears poised for continued growth. If current trends persist—supported by positive population growth—the demand for housing is likely to remain strong. Given that economic factors such as employment rates and infrastructure development often accompany population increases, one can cautiously project a stable or even enhanced rate of property value appreciation in both houses and apartments. However, potential investors and homeowners should remain aware of broader economic conditions that might impact interest rates and affordability, which could subsequently affect the real estate market dynamics.
