Sunnybrook, 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 |
| 5 bedrooms | $700,000 |
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
The real estate market in Sunnybrook, Alberta is currently experiencing a stable growth phase. The median house price in the area stands at $500,000, with a year-over-year increase of 3.5%. This steady appreciation indicates a healthy demand for housing. Similarly, the median apartment price has reached $300,000, climbing at a slower yet consistent rate of 2.1% over the past year.
With a population of 15,000 and a robust population growth rate of 7.1%, Sunnybrook’s real estate market benefits from an increasing demand for residential properties. This growth can be attributed to several factors including economic development, job opportunities, and an attractive living environment that continues to draw new residents.
Investment Opportunities and Potential
The positive trends in Sunnybrook’s real estate market offer lucrative investment opportunities. Investors should consider the following:
- Rental Properties: With the population on the rise, there is potential for strong rental demand, particularly for apartments which have seen a more moderate price increase compared to houses.
- Development Projects: The continuous influx of new residents may lead to opportunities in property development and renovation projects aimed at meeting the growing housing needs.
- Long-term Appreciation: Given the steady growth in property values, long-term investments in Sunnybrook’s real estate could benefit from ongoing appreciation and wealth accumulation.
The consistent market growth combined with economic stability in Alberta makes Sunnybrook an attractive location for both residential and commercial real estate investments.
Future Market Outlook
The outlook for the Sunnybrook real estate market remains optimistic based on current trends and underlying economic factors. If population growth continues at its current pace or accelerates, it is likely that demand for housing will sustain or even drive further increases in property values.
The area’s year-over-year house and apartment price trends suggest that we can expect continued but measured appreciation rates in the near future. It is also important for potential investors to monitor local economic developments as well as any changes in provincial or federal policies that might impact the real estate market.
In conclusion, with prudent investment strategies and an eye on local and broader economic indicators, stakeholders can look forward to potential gains within Sunnybrook’s dynamic real estate landscape.
