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 (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 Spedden, Alberta, is currently experiencing stable growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This steady rise in house prices indicates a healthy demand for residential properties. Meanwhile, the apartment sector has seen a modest uptick with the median price at $300,000 and following a slightly lower year-over-year trend of 2.1%.
The population of Spedden has been growing at a robust rate of 7.1%, suggesting an expanding community that could continue to drive demand for housing. The current trends show that the market is maintaining momentum, making it attractive to both homeowners and investors seeking long-term value appreciation.
Investment Opportunities and Potential
With a growing population and consistent property value appreciation, Spedden presents attractive investment opportunities. The rising trend in median house prices suggests that purchasing residential property now could lead to significant capital gains over time. Investors should consider the potential of single-family homes, which are currently leading the market in terms of price growth.
Apartments offer a more accessible entry point for investors due to their lower median price point. Although the growth rate for apartments is slower compared to houses, they still present a viable option for rental income and diversification of investment portfolios. Given the population growth, there may be an increasing demand for rental units, potentially driving up rental yields and occupancy rates.
Future Market Outlook
The future outlook for the Spedden real estate market appears promising. Population growth is likely to continue serving as a fundamental driver of housing demand. If the local economy remains stable or improves, this could further bolster both the rental and buyer markets.
In light of these factors, we may expect sustained or possibly increased rates of property appreciation over the coming years. Investors and homebuyers looking at Spedden should monitor local developments closely, such as infrastructure improvements or economic initiatives that could impact the real estate market positively.
However, it is essential for stakeholders to also consider external economic factors such as interest rates and national housing policies that can influence buyer affordability and investment attractiveness. Staying well-informed will be key to navigating this dynamic market effectively.