Waskatenau, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $485,000 |
Monthly growth | 1.1% |
Quarterly trend | 3.2% |
Stock on market | 0.8% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 1.8% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $485,000 |
4 bedrooms | $590,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $345,000 |
3 bedrooms | $430,000 |
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
The real estate market in Waskatenau, Alberta is currently experiencing steady growth. With a median house price of $485,000, the market has seen a 3.2% year-over-year increase. This indicates a healthy demand for housing in the area, likely driven by the town’s growing population, which has risen by 3.4%. The market for apartments also reflects a positive trend with a median apartment price of $295,000, and a more modest year-over-year increase of 1.8%. These trends suggest that Waskatenau’s real estate market is expanding at a controlled pace, which may appeal to both homeowners and investors looking for stable growth.
Investment Opportunities and Potential
In terms of investment potential, Waskatenau offers attractive opportunities for both residential and rental properties. The consistent growth in property values indicates that investments made in the current market could appreciate over time. The housing market appears particularly promising given its higher annual appreciation rate. For investors interested in rental properties or seeking to cater to the local population’s housing needs, apartments present an opportunity to enter the market at a lower price point while still benefiting from the area’s overall growth. Given the population increase of 3.4%, there is potential for heightened demand for rental units, which could drive up rental yields and provide investors with strong returns.
Future Market Outlook
The future outlook for Waskatenau’s real estate market looks optimistic. Population growth remains robust at 3.4%, suggesting continued demand for housing in the near to medium term. As long as economic conditions remain favorable and the population continues to rise, one can anticipate ongoing increases in property values and rental demand. However, it is important for investors to monitor local economic drivers and consider any potential risks such as changes in employment rates or regional economic policies that could impact the housing market dynamics.
Overall, Waskatenau presents as a market with solid fundamentals underpinned by steady growth in both property values and population size. Investors and homebuyers should nonetheless remain informed on provincial and national economic trends that may influence local real estate conditions moving forward.