Springbrook, 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
As of the latest data, Springbrook, Alberta is experiencing steady growth in its real estate market. The median house price in this community stands at $500,000, which represents a 3.5% increase year-over-year. Meanwhile, apartments are slightly more accessible with a median price of $300,000, and they have seen a more moderate increase of 2.1% over the same period. This growth is underpinned by a significant population increase of 7.1%, suggesting a robust demand for housing as more people move to the area.
Investment Opportunities and Potential
The ongoing rise in property values indicates a healthy investment potential for both residential houses and apartments in Springbrook. Given the population growth rate, demand for housing should remain high, which could lead to sustained or increased property value appreciation. For investors looking to enter the market, now may be an opportune time to capitalize on both long-term capital gains and the potential for rental income as the local housing demand persists.
Future Market Outlook
Considering the current trends and population growth, the future market outlook for Springbrook appears optimistic. If the population continues to grow at its current rate of 7.1%, it will likely keep driving demand for housing. Furthermore, if economic conditions remain stable or improve, and interest rates are favorable, we can anticipate continued growth in property values. However, prospective investors and homeowners should monitor local developments that could impact these trends, such as changes in regional employment rates or government policies affecting real estate.
