Wekweeti, Northwest Territories Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.2 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Wekweeti is currently experiencing a steady increase in property values. With the median house price at $500,000 and showing a year-over-year growth of 4%, the market indicates a consistent demand for residential homes. Similarly, apartments are becoming increasingly valuable, with the median price standing at $320,000 and a growth trend of 2.5% year-over-year. This growth aligns with the overall population increase of 3.4%, suggesting that the market is driven by the rising demand from a growing population now at approximately 15,000 residents.
Investment Opportunities and Potential
Given the positive trends in property value appreciation, Wekweeti presents attractive investment opportunities. The consistent increase in median house prices indicates a robust housing market that could provide significant returns on investment for both short-term and long-term investors. Additionally, the smaller yet consistent growth in apartment prices can appeal to investors looking for lower entry points into the real estate market or those interested in purchasing units to rent out. Investors should also consider the potential impact of new developments and infrastructure projects that could further stimulate economic growth and drive up property values.
Future Market Outlook
The future outlook for Wekweeti’s real estate market appears optimistic. The steady population growth of 3.4% suggests an ongoing demand for housing which may continue to push property values upward. As long as this trend continues, coupled with sustainable economic development, it is reasonable to expect that both house and apartment prices will maintain their current trajectory of growth. However, it is important for potential investors to remain aware of local economic conditions and any shifts in demographic trends that could affect market stability. Close monitoring of these factors will be essential for accurate forecasting and successful investment strategies.
