Waiparous, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| 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 | $470,000 |
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 Waiparous, Alberta is currently experiencing a steady growth. The median house price stands at $525,000, with a year-over-year increase of 4%. This suggests a healthy demand for single-family homes, and indicates the resilience of this segment despite broader economic fluctuations. Similarly, the median apartment price is at $320,000, having risen by 2.5% over the same period. This demonstrates a more modest but consistent appreciation in value for smaller housing units.
The population in Waiparous has been growing at a rate of 3.3%, which is reflective of an influx of residents seeking the lifestyle and opportunities that the area provides. Such demographic trends are typically positive for real estate markets as they can drive sustained demand for housing.
Investment Opportunities and Potential
The current trajectory of the housing market presents multiple investment opportunities. The consistent rise in house prices points to the potential for capital gains in the medium to long term. Investors looking to purchase single-family homes could expect continued appreciation given the current 4% growth trend. The slower growth in apartment prices suggests that there may be room for significant upside if demand for such units increases alongside population growth.
Moreover, with an expanding population base, rental properties may also represent an attractive investment. Rental demand is likely to increase proportionally as new residents look for accommodation, potentially resulting in favorable rental yields and low vacancy rates for investors.
Future Market Outlook
The outlook for Waiparous’s real estate market appears optimistic. Given the steady population growth combined with current property price trends, it’s reasonable to forecast continued appreciation in property values. Infrastructure development and economic expansion could further bolster this outlook as Waiparous continues to attract new residents and businesses.
However, potential investors should be mindful of broader economic conditions that could influence interest rates and lending practices, which in turn may affect affordability and property market dynamics. Monitoring key indicators and staying informed on local development plans will be crucial for those looking to invest or partake in the Waiparous real estate market.
