Tipaskan, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $485,000 |
Monthly growth | 1.1% |
Quarterly trend | 3.2% |
Stock on market | 0.6% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 1.8% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $485,000 |
4 bedrooms | $550,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $320,000 |
3 bedrooms | $400,000 |
Demographics
Current Population (2025) | 15,000 |
Previous Population (2020) | 14,500 |
Population Change | 3.4% |
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 Tipaskan, Alberta is currently experiencing stable growth, as indicated by the increase in median house prices by 3.2% year-over-year. The median house price now stands at $485,000. This growth trend is slightly above the national average, suggesting a healthy demand for housing in the area.
Concurrently, the apartment sector shows a more modest increase of 1.8% year-over-year with a median price of $295,000. While this growth is less pronounced than that of houses, it still points towards an upwards trajectory for the property values in Tipaskan.
The population of Tipaskan has grown by 3.4%, now totaling approximately 15,000 residents. This influx of new residents is likely contributing to the demand for housing and may be a driving factor behind the steady appreciation in property values.
Investment Opportunities and Potential
Investors looking at Tipaskan’s real estate market can find potential in both the residential housing and apartment sectors. Given the steady year-over-year price increases, investing in a property here could yield capital gains over time. Additionally, as the population continues to grow, rental properties may see an increase in demand, which could translate to favorable rental yields for investors.
The consistent growth also presents an opportunity for developers to address any potential gaps in supply, especially if the population continues to expand at its current rate or faster due to factors such as new employment opportunities or regional developments.
Moreover, with relatively affordable median prices for apartments compared to larger markets within Alberta and Canada as a whole, there is potential for first-time homebuyers to enter the market. This could further stimulate local demand and contribute to long-term sustainability for investors.
Future Market Outlook
Looking ahead, the future market outlook for Tipaskan appears positive. If current trends persist—particularly with regards to population growth and housing demand—investors can reasonably expect continued appreciation in property values.
The ongoing population increase should keep demand high for both purchasing and renting properties. This bodes well for those holding long-term investment strategies as well as developers seeking new projects within the community.
It’s important to note that while current trends are positive, external economic factors such as interest rates, employment rates within Alberta, and broader economic conditions can affect market dynamics. Therefore, continuous analysis of local and national economic indicators is essential when projecting future trends in Tipaskan’s real estate market.