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
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.
