Wabasca, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
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 | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 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
In Wabasca, Alberta, the real estate market is currently experiencing moderate growth. The median house price in the region stands at $485,000, with a positive year-over-year price trend of 3.2%. This indicates a steady but healthy growth rate in the housing market. Similarly, the median apartment price has been recorded at $295,000, following a slightly lower year-over-year increase of 1.9%.
The population of Wabasca has reached approximately 15,500 residents, with a notable population growth rate of 3.3%. This demographic expansion suggests an increasing demand for housing and may contribute to the continued appreciation of property values in the area.
Investment Opportunities and Potential
The current trends suggest that Wabasca’s real estate market offers promising investment opportunities. The steady increase in property values coupled with the ongoing population growth presents potential for both short-term gains through resale and long-term income through rental properties.
Investors considering entering the Wabasca market may find particular value in single-family homes due to their higher appreciation rate compared to apartments. However, apartments still offer a valuable entry point for investors looking for a more affordable option with stable growth prospects.
Future Market Outlook
The future outlook for Wabasca’s real estate market remains optimistic. With continuous population growth and a steady climb in property prices, the market is likely to maintain its upward trajectory. However, potential investors should be aware of broader economic factors and regional developments that could impact these trends.
As long as the local economy supports job creation and sustains population increases, demand for housing is expected to persist. Should these conditions remain favorable, Wabasca’s real estate market could present resilient investment opportunities with the potential for both capital appreciation and rental yield over time.
