Tangent, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,300 |
| Previous Population (2019) | 15,000 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Tangent, Alberta currently presents a stable growth environment. With a median house price of $485,000, the market has experienced a year-over-year increase of 4%. This indicates a healthy demand for single-family homes and an upward trend in property values. The apartment sector is also showing positive movement, albeit at a slightly slower pace, with a median price of $295,000 and an annual appreciation rate of 2.5%.
The demographic foundation supporting this growth is the steady population increase of 2%, bringing the total number of residents to 15,300. This influx is likely contributing to the housing demand and can be seen as a sign of sustained economic stability in the region.
Investment Opportunities and Potential
In terms of investment opportunities, Tangent’s real estate market offers potential for both short-term gains and long-term equity growth. The consistent increase in property values suggests that investments made in residential real estate are likely to benefit from capital appreciation over time. Moreover, single-family homes appear to be particularly attractive assets given their higher annual price increase compared to apartments.
For investors seeking rental income, the growing population implies a potential rise in rental demand. This could translate into competitive yields for landlords, especially if they focus on strategically located properties that cater to the needs of new residents.
Future Market Outlook
The future outlook for Tangent’s real estate market remains cautiously optimistic. Assuming the continuation of current economic conditions and population trends, property values are expected to maintain their upward trajectory. The key drivers for this outlook include ongoing population growth and limited housing supply pressures that may contribute to further price increases.
However, investors should remain vigilant about broader economic factors such as interest rates changes, employment levels within the area, and any shifts in government housing policies that may impact market dynamics. Careful monitoring of these variables will be crucial for making informed investment decisions in Tangent’s evolving real estate landscape.
