Tawatinaw, 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
The real estate market in Tawatinaw, Alberta, is currently experiencing a period of steady growth. With a median house price of $500,000 and an annual appreciation trend of 3.5%, the market is showing healthy vitality. Similarly, the median apartment price stands at $300,000, with a somewhat slower growth rate of 2.1% year-over-year. This indicates a consistent but moderate increase in property values across the board.
The population of Tawatinaw has reached 15,000, with a substantial growth rate of 7.1%, suggesting an influx of new residents and potential homebuyers. This demographic expansion can be seen as a driving force behind the steady rise in property values and the overall buoyancy of the housing market.
Investment Opportunities and Potential
Considering the current trends, Tawatinaw presents several promising investment opportunities. The continuous increase in property values coupled with robust population growth creates an ideal environment for real estate investment. Investors could expect capital gains from purchasing residential properties due to the consistent appreciation rates observed in both houses and apartments.
As the population continues to grow, demand for rental properties is likely to surge as well, potentially offering attractive returns for investors who are interested in becoming landlords or investing in multi-family units. Additionally, new developments could be appealing for those looking to invest in construction projects aimed at meeting the growing housing demand.
Future Market Outlook
The future outlook for Tawatinaw’s real estate market remains positive. Given the solid year-over-year growth in property prices and the significant population increase, it is reasonable to anticipate continued demand for housing in the area. This demand may lead to sustained or possibly even increased rates of appreciation for homes and apartments alike.
However, investors should also consider external economic factors such as interest rates, employment rates, and regional economic development initiatives that could influence future market conditions. Despite these variables, Tawatinaw’s current trajectory suggests that the local real estate market is poised for ongoing growth and remains an attractive option for both short-term and long-term investment strategies.
