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Sundre, Alberta Real Estate Market Data

Updated: Nov 2024

House

Median price $525,000
Monthly growth 1.1%
Quarterly trend 4.0%
Stock on market 0.6%

Apartment

Median price $315,000
Monthly growth 0.8%
Quarterly trend 2.5%
Stock on market 1.0%

Prices by Number of Bedrooms

Houses

Bedrooms Median Price
2 bedrooms $450,000
3 bedrooms $525,000
4 bedrooms $650,000

Apartments

Bedrooms Median Price
1 bedrooms $260,000
2 bedrooms $360,000
3 bedrooms $475,000

Demographics

Current Population (2024) 15,500
Previous Population (2019) 15,000
Population Change 3.3%
Total Private Dwellings 6,200
Occupied Private Dwellings 5,800
Population Density (per km²) 1.6
Land Area (km²) 2,500.5

Market Analysis






Sundre, Alberta Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Sundre, Alberta is currently characterized by steady growth. With a median house price of $525,000, there has been a 4% year-over-year increase, indicating sustained demand and a healthy market environment. This trend is mirrored in the apartment sector, with a median price of $315,000 and a slightly more modest 2.5% year-over-year growth. The population of Sundre stands at 15,500 residents and has seen a robust 3.3% growth. This demographic expansion suggests that the local real estate market is likely benefitting from an influx of new residents seeking housing options.

Investment Opportunities and Potential

The positive trends in population growth and property value increases signal strong investment opportunities in Sundre. The consistent rise in property values indicates that investments in residential real estate are likely to appreciate over time. For investors looking to enter the market, single-family homes present a viable option given their higher appreciation rate of 4%. Apartments also offer potential for rental income alongside capital appreciation due to their 2.5% annual price increase. With the current population trajectory, demand for both rental and owner-occupied properties is expected to remain robust.

Future Market Outlook

Looking ahead, the future market outlook for Sundre’s real estate appears positive. Assuming that the current drivers of growth—population increase and economic stability—continue along their present course, property values are likely to maintain their upward trend. While external factors such as economic shifts or changes in interest rates can impact market dynamics, the underlying data points towards ongoing demand for housing within Sundre. Investors and homeowners can be cautiously optimistic about the prospects for continued market health in both the short and medium term.