Viking, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $570,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,050 |
| Previous Population (2019) | 14,200 |
| Population Change | 6.1% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Viking, Alberta is currently experiencing a modest year-over-year growth. With the median house price sitting at $485,000, the market has seen an increase of 2.8% from the previous year. Similarly, the median apartment price has risen to $295,000, marking a 1.9% increase year-over-year. These statistics suggest a stable and gradually appreciating market.
The population of Viking has shown significant growth at a rate of 6.1%, bringing the current population to approximately 15,050 residents. This influx of new residents can be linked to both natural growth and migration, which may contribute to increasing demand for housing in the area.
Investment Opportunities and Potential
The steady growth in property values indicates that Viking represents a market with solid investment opportunities. The fact that house prices are rising at a higher rate than apartment prices could suggest that single-family homes may offer better capital appreciation potential in the short to medium term.
In addition to appreciation potential, investors should consider the demographic trends driving demand for housing in Viking. With an expanding population base, there may be an opportunity for both rental and sale markets, particularly if the growth trend continues. Investors looking for long-term holdings might find Viking’s real estate market to be promising due to its consistent growth patterns.
Future Market Outlook
Moving forward, it is expected that the real estate market in Viking will continue on its current trajectory of gradual growth. Given the solid population increase and ongoing economic stability within the region, demand for housing is likely to remain robust.
However, prospective investors and homeowners should monitor local economic conditions and national real estate trends as external factors can influence market dynamics. Assuming no major economic disruptions occur, Viking’s real estate market appears poised for continued stable expansion.
