Vimy, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.3% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $410,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Vimy, Alberta is currently experiencing moderate growth. The median house price stands at $485,000, which marks a year-over-year increase of 3.3%. This steady appreciation indicates a healthy demand for housing in the area. Similarly, the median apartment price has reached $295,000, growing at a slightly lower rate of 2% year-over-year. These figures suggest that while the market is expanding, it is doing so at a sustainable pace.
The population of Vimy has grown to 15,000 residents, with an above-average population growth rate of 3.4%. This demographic expansion has contributed to the heightened demand for housing and points towards an active market with potential for future growth.
2. Investment Opportunities and Potential
In light of Vimy’s growing population and consistent property value appreciation, there are promising investment opportunities in both residential and rental properties. The upward trend in house prices suggests that purchasing residential real estate could yield solid capital gains for investors over the long term. On the other hand, the rising apartment prices reflect an ongoing demand for more affordable, flexible living spaces, which may be particularly attractive to investors focusing on the rental market.
Given the current trends and considering that the increases are moderate rather than steep, investments made now have potential for good ROI while also carrying a lower risk of a sudden market downturn.
3. Future Market Outlook
The future real estate market outlook for Vimy, Alberta remains optimistic based on current trends and data. With a steady population growth rate that outpaces many other regions (3.4%), the demand for housing is expected to remain robust. This demographic trend, combined with modest yet consistent increases in property values for both houses and apartments, indicates a stable market poised for sustained growth.
Investors should note that markets are subject to change due to various economic factors; however, based on available data, Vimy’s real estate landscape shows promise for continued appreciation in property values over the coming years. Caution and due diligence are always recommended as part of any investment strategy.
