Waskatenau, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| 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 | $500,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $480,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| 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 Waskatenau, Alberta
The real estate market in Waskatenau, Alberta is currently exhibiting steady growth. With a median house price of $500,000 reflecting a year-over-year increase of 4%, the residential property market has been demonstrating resilience and a positive trajectory. Similarly, the median apartment price stands at $320,000, with a slightly lower growth rate of 2.5% compared to houses. This divergence in growth rates may indicate a stronger demand for single-family homes over apartments or potentially a lag in the apartment market that could present a catch-up opportunity in the future.
The population of Waskatenau is also on an upward trend with a growth rate of 3.4%, suggesting an increasing demand for housing. The demographic expansion is likely contributing to the steady appreciation of property values as more people seek accommodation within the region.
Investment Opportunities and Potential
Investors considering the Waskatenau real estate market can find potential in both the housing and apartment sectors. Given the solid 4% year-over-year growth for houses, investing in residential properties could yield substantial long-term capital gains. As the population continues to grow, and if this trend persists, housing demand is expected to rise correspondingly, possibly driving prices upwards further.
Apartments, with their lower median price point and growth rate, may be particularly attractive to investors looking for more affordable entry into the market or those aiming to cater to individuals or smaller households who prefer apartment living. While the growth is presently lower than that of houses, apartments may offer rental income opportunities and diversification benefits within an investment portfolio.
Future Market Outlook
The future outlook for Waskatenau’s real estate market appears optimistic given current trends and underlying demographic shifts. Should the population continue to grow at the observed rate of 3.4% or higher, we can anticipate sustained or even increased demand for housing in both private homes and apartments.
With economic stability and consistent population influxes, it is reasonable to predict that both segments of the market will maintain their growth momentum. However, investors should remain vigilant for any economic changes that could impact employment rates and housing affordability, which are key drivers of real estate performance.
In summary, Waskatenau presents itself as a robust market with potential for further expansion and investment return. Stakeholders are encouraged to monitor local economic developments closely while considering long-term strategies aligned with demographic trends.
