Sundre, 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 Sundre, Alberta
The real estate market in Sundre, Alberta, is currently experiencing moderate growth. With a median house price of $500,000, the market has seen an increase of 3.5% year-over-year. This indicates a healthy demand for detached homes in the area, likely driven by a combination of factors including the locality’s lifestyle appeal, economic stability, and overall quality of life.
Similarly, the apartment sector shows a positive trend with the median apartment price standing at $300,000, marking a year-over-year increase of 2.1%. This more modest growth rate suggests that while there is interest in multi-family dwellings, it may not be as robust as the demand for single-family homes.
The population of Sundre currently sits at approximately 15,000 residents and has seen substantial growth at a rate of 7.1%. This influx of new residents is likely contributing to the steady appreciation in property values as demand for housing increases.
Investment Opportunities and Potential in Sundre, Alberta
Sundre’s real estate market presents several attractive opportunities for investors. The consistent growth in housing prices points towards a stable investment environment. Single-family homes, with a stronger growth rate at 3.5%, are particularly promising as they offer higher potential capital gains for investors looking for medium to long-term holdings.
The apartment market, with its 2.1% growth rate, may be appealing for those interested in earning rental income, especially given the rising population which could increase demand for rental units. Investors should also consider the future development potential in Sundre; areas slated for new infrastructure or community development projects may see accelerated property value appreciation.
Future Market Outlook for Sundre, Alberta
The future real estate market outlook for Sundre is optimistic. Assuming current trends continue, property values are likely to keep increasing steadily over time. The robust population growth serves as an indicator that demand will remain high, thereby supporting both home values and rental rates.
However, potential investors and homeowners should remain vigilant regarding broader economic conditions that could impact interest rates and unemployment levels which might affect affordability and housing demand. Monitoring these factors will be crucial to making informed decisions about entering or exiting the market at the right time.
In conclusion, Sundre’s real estate market is showing positive signs with consistent property value growth and strong population increases. While current trends suggest a favorable investment climate and outlook, stakeholders should stay informed on local and national economic shifts that could influence future market conditions.
