Warwick, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $505,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 3.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $505,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $355,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 15,000 |
| Population Change | 1.3% |
| Total Private Dwellings | 6,100 |
| 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 Warwick, Alberta is experiencing a steady increase in property values. With the median house price currently standing at $505,000, there has been a year-over-year growth of 3.8%, suggesting a healthy demand for detached properties. Meanwhile, the median apartment price is $315,000, which has seen a slightly lower but still positive trend of 2.5% over the past year. These statistics reflect a market that is appreciating at a moderate pace.
The population of Warwick has been growing at a rate of 1.33%, which can contribute to the increasing demand for housing. The sustained population growth often signals an enduring need for both rental and owner-occupied housing, which can help maintain or even push up property values over time.
Investment Opportunities and Potential
Investors considering the Warwick real estate market may find promising opportunities given the consistent upward trends in property values. Detached homes, with their higher year-over-year price increase, present potential for more significant capital gains. However, apartments with their more accessible entry price point offer a lower barrier to investment and may be particularly appealing to those looking to enter the market or diversify their portfolios with rental properties.
The ongoing population growth contributes positively to the rental demand, which could result in reduced vacancy rates and the potential for increased rental yields over time. Investors should also consider local economic factors, infrastructure developments, and employment rates as these will have direct effects on the real estate market’s health and investment potential.
Future Market Outlook
Looking forward, the future market outlook for Warwick appears cautiously optimistic. If current trends continue, such as population growth and economic stability, we can expect further incremental increases in property values. The important indicators to monitor will be any changes in local economic conditions, interest rates, and broader provincial or national housing policies that could affect buyer sentiment and borrowing capabilities.
Given that both the global and national economic landscape can shift rapidly due to unforeseen events (such as public health crises or political changes), investors should stay informed on both local and wider-reaching news that could impact the Warwick real estate market. For now, however, Warwick seems poised for continued steady growth making it an attractive option for both residential homebuyers and real estate investors alike.
