Wanham, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Wanham, Alberta, is currently experiencing a period of moderate growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This trend indicates steady demand for housing in the area and a healthy residential market. In contrast, apartments show a smaller but still positive trend, with the median apartment price at $300,000 and an annual growth rate of 2.1%. Such figures suggest a slightly cooler market for apartments compared to houses.
Investment Opportunities and Potential
The investment landscape in Wanham presents promising opportunities, particularly in the housing sector. With consistent growth in house prices outpacing that of apartments, investors might find greater potential in purchasing single-family homes or developing new residential projects. The robust population growth of 7.1% further bolsters the case for residential investment as more people moving into the area could translate into higher demand for housing.
Future Market Outlook
The future outlook for Wanham’s real estate market appears optimistic. The current trends and population growth suggest that demand will continue to rise, potentially leading to further increases in property values over time. Considering the steady growth rates and demographic dynamics, investors and homebuyers can expect a competitive market with the possibility of continued appreciation in property values.
