Wainwright, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $480,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $290,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $480,000 |
| 4 bedrooms | $550,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $400,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,400 |
| Population Change | 4.2% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.4 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Wainwright, Alberta is currently experiencing steady growth. With a median house price of $480,000, which reflects a year-over-year increase of 4%, the market is showing signs of healthy demand. The median apartment price stands at $290,000, following a slightly lower trend with a 2.5% increase from the previous year. This suggests that while both sectors are growing, houses are seeing a bit more rapid appreciation in value compared to apartments.
The population of Wainwright has reached 15,000 and is continuing to grow at a rate of 4.2%. This significant population growth indicates the potential for increased housing demand, providing support for the current upward trends in the housing market.
Investment Opportunities and Potential
Investors looking into the Wainwright real estate market may find attractive opportunities given the solid growth patterns observed. The steady increase in median house prices points towards a robust market where investment in residential properties could yield favorable returns. The slower growth rate in apartment prices may suggest an opportunity to enter the market at a more moderate price point with potential for future appreciation.
The healthy population growth rate further adds to the appeal for investors as it may lead to higher rental demand, particularly if this growth is driven by an influx of workers or families seeking long-term residences in the area. As such, purchasing rental properties could be a strategic move to capitalize on this demographic trend.
Future Market Outlook
The future outlook for Wainwright’s real estate market remains optimistic. If current trends continue, we can expect ongoing increases in property values across both houses and apartments. Population growth is projected to sustain its momentum, which should underpin demand for housing and potentially push prices upward.
However, investors should monitor key economic indicators such as employment rates, income levels, and regional economic developments that could impact the real estate market. Wainwright’s small-town appeal and growing community suggest that it will maintain its attractiveness for both residents and investors alike.
In summary, while careful consideration of individual investment goals and risk tolerance is always advised, Wainwright presents as a town with solid potential for real estate investment rooted in positive market trends and demographic expansion.
