Tomahawk, 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
The real estate market in Tomahawk, Alberta, presents a stable environment for potential homebuyers and investors. The median house price currently stands at $500,000, reflecting a steady year-over-year increase of 3.5%. This growth suggests a healthy demand for single-family homes in the area. Similarly, the market for apartments is showing positive momentum with a median price of $300,000 and a growth trend of 2.1% year-over-year.
Tomahawk’s population has experienced significant growth, with an increase of 7.1%, indicating an expanding community that could further drive housing demand. This demographic change is crucial for investors to consider as it may lead to increased rental demand and potential for capital appreciation.
Investment Opportunities and Potential
With the observed stable growth in property values and the influx of residents, Tomahawk offers promising investment opportunities. The sustained increase in the median house price implies that purchasing residential properties could yield attractive returns over time through both capital gains and rental income.
The apartment sector also shows potential for investors focusing on more affordable housing options and looking to cater to individuals or smaller families who are attracted by the lower price point. Given the population growth trend, demand for such housing units is likely to rise, which can contribute to both rental occupancy rates and potential rental yield increases.
The data indicates that investing in Tomahawk’s real estate market could be particularly advantageous for long-term investors who prioritize steady growth and demographic-driven demand.
Future Market Outlook
The future market outlook for Tomahawk remains optimistic based on current trends and demographic indicators. If the population continues to grow at the current rate or higher, it will likely result in sustained or increased demand for housing across various sectors of the market. Consequently, we can anticipate that both home prices and apartment values might continue to see an upward trajectory.
The local economy’s performance and any developments in infrastructure or amenities will also play a crucial role in shaping the market’s future direction. Investors should watch for such changes as they can significantly influence buyer sentiment and property value perceptions.
In summary, Tomahawk’s real estate market is characterized by steady growth, enhanced by population expansion. Careful consideration of ongoing trends suggests that this locale holds favorable prospects for residential property investment, particularly for those with a long-term investment horizon.
