Spedden, 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
In Spedden, Alberta, the real estate market is currently experiencing a period of growth, as indicated by the year-over-year increase in property values. The median house price stands at $500,000, with an upward trend of 3.5% over the past year. This suggests a healthy demand for housing and a competitive market for potential buyers.
The market for apartments is also seeing positive movement, albeit at a slower pace. The median apartment price is currently $300,000, with an annual appreciation rate of 2.1%. This rate indicates a more stable but still appreciating market segment for multi-family dwellings.
The population of Spedden has reached approximately 15,000 residents, with a notable population growth rate of 7.1%. This rapid increase in population is likely fueling the demand for housing and contributing to the steady rise in property prices.
Investment Opportunities and Potential
The robust population growth paired with consistent property value appreciation presents attractive investment opportunities in Spedden’s real estate market. Investors can capitalize on the rising demand for both single-family homes and apartment units.
The stronger growth rate in house prices compared to apartments suggests that single-family homes may offer higher capital gains in the short to medium term. However, apartments might appeal to investors looking for more affordable entry points into the market or those aiming to cater to renters who cannot afford to purchase homes at current median prices.
In light of these factors, potential investors should consider both immediate returns through rental income and long-term asset appreciation when evaluating investment options in Spedden.
Future Market Outlook
The future outlook for Spedden’s real estate market remains optimistic given current trends and demographic indicators. Assuming that the population continues to grow at a similar pace and economic conditions remain favorable, demand for housing is likely to persist, potentially leading to further increases in property values.
However, investors and homebuyers should monitor local economic developments, interest rates, and any changes in housing supply that could affect market dynamics. While current trends point towards a steadily appreciating market, external economic factors can influence future growth rates.
In conclusion, with careful consideration of broader economic conditions and ongoing monitoring of local trends, stakeholders can make informed decisions within Spedden’s promising real estate environment.
