Tees, 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 (2025) | 15,000 |
Previous Population (2020) | 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
In Tees, Alberta, the current median house price is $500,000, which has experienced a steady increase of 3.5% year-over-year. This growth reflects a robust demand in the housing market. Meanwhile, the median apartment price stands at $300,000, with a slightly lower growth rate of 2.1% year-over-year. This difference in growth rates suggests that houses are currently more sought-after than apartments in Tees.
The population of Tees has grown to 15,000 residents, indicating a significant population growth rate of 7.1%. This rapid increase in population is likely contributing to the demand for housing and can be seen as a driving force behind the positive trends in property values.
Investment Opportunities and Potential
Given the steady increase in property values and the notable population growth, Tees presents attractive investment opportunities especially in residential real estate. Investors should consider targeting single-family homes due to their stronger appreciation trend compared to apartments.
The continuous influx of new residents suggests that rental properties may also offer stable returns as demand for rental accommodations is likely to rise alongside the growing population. Developers and investors should also keep an eye on areas poised for infrastructural development or community enhancements as these regions often see accelerated property value appreciation.
Future Market Outlook
The positive trajectory of the Tees real estate market appears sustainable given current trends and demographic shifts. The substantial year-over-year property value increases coupled with significant population growth positions Tees for continued expansion in its real estate sector.
If the population continues to grow at or near its current rate, demand for both ownership and rental properties will likely remain strong, supporting further appreciation in property values. However, potential investors should remain vigilant about changes in local economic conditions and watch for any signs that might indicate a slowing of population growth or other factors that could affect market stability.