Wabamun, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.8% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $675,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $480,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| 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 Wabamun, Alberta is experiencing a period of steady growth. The median house price currently stands at $525,000, showing a healthy year-over-year increase of 4.2%. This indicates a robust market with growing demand for residential properties. Similarly, the median apartment price is at $315,000, which has climbed by 1.8% over the past year. Such trends underscore a consistent appreciation in property values across different housing types.
Wabamun’s population has grown by 3.3% recently, suggesting an influx of new residents and potential homebuyers into the area. This population growth can be linked to the area’s economic opportunities and appealing lifestyle offerings, further driving the demand for housing.
Investment Opportunities and Potential
Given the current market dynamics, investment opportunities in Wabamun are promising. The continuous increase in property values offers potential for capital gains over time. Investors looking to purchase residential properties can expect sustained interest due to the region’s population growth.
The more moderate increase in apartment prices compared to houses suggests that there is room for growth in this sector as well. Investors may find that apartments offer an affordable entry point into the market with a potentially higher rental yield due to increasing demand from smaller households or individuals attracted by the region’s amenities and employment options.
Future Market Outlook
The future real estate market outlook for Wabamun appears positive. The ongoing trend of population growth paired with gradual property value appreciation signals a stable environment for both homeowners and investors. If these trends continue along their current trajectory, one can anticipate further increases in property prices and rental rates.
However, prospective buyers and investors should monitor economic indicators and regional developments that could influence the market. Factors such as employment rates, infrastructure investments, and provincial policies will play crucial roles in shaping the future landscape of Wabamun’s real estate market.
