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 phase of moderate growth. With a median house price set at $500,000 and an annual increase of 3.5%, the market is showing healthy appreciation. Similarly, apartments in the area are becoming more valuable with a median price of $300,000 and a year-over-year growth rate of 2.1%. These statistics suggest a steady demand for housing in Tawatinaw.
The population in Tawatinaw has grown by 7.1%, which is considerably high and indicates potential for increased housing demand in the near future. The current trends point towards a balanced market with sustainable growth, which is attractive to both homebuyers and investors alike.
Investment Opportunities and Potential
Tawatinaw presents various investment opportunities, particularly in the residential sector. Given the current growth rate in property values and steady population increase, investors might see potential for both short-term gains through property flipping and long-term equity growth through buy-and-hold strategies.
The consistent rise in apartment prices suggests that there is also an opportunity in the rental market. As the population continues to grow, so too does the demand for rental units. Investors could seize this chance to purchase apartments or develop multi-family units to cater to this segment of the market.
Future Market Outlook
The future outlook of Tawatinaw’s real estate market appears positive with several indicators pointing towards ongoing growth. The combination of rising property values, steady population increase, and economic stability suggests that Tawatinaw will continue to be an appealing location for both residents and investors.
If these trends persist, it’s likely that we will see sustained increases in property values across both houses and apartments. However, it’s important for investors to monitor economic factors at both local and national levels as they can influence mortgage rates, employment rates, and overall affordability—all of which can impact the real estate market.
In conclusion, Tawatinaw’s real estate market offers promising opportunities for investment and is poised for continued growth assuming stable economic conditions prevail.
