Welling, 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 in Welling, Alberta
In Welling, Alberta, the real estate market is characterized by steady growth. The median house price stands at $500,000, which indicates a year-over-year increase of 3.5%. This trend signifies a healthy demand for single-family homes. Similarly, the median apartment price is currently at $300,000 with a slightly lower appreciation rate of 2.1% year-over-year. This difference in growth rates between houses and apartments may reflect a stronger preference for more spacious living accommodations among the local populace or an influx of families seeking detached homes.
The population of Welling has seen a significant increase of 7.1%, suggesting that the town is experiencing demographic expansion that could be fueling the housing demand. With an expanding population, the real estate market is likely experiencing a concurrent rise in demand for both ownership and rental properties.
Investment Opportunities and Potential in Welling, Alberta
Given the steady rise in property values and the robust population growth, Welling presents several attractive investment opportunities. The continued appreciation of house and apartment prices suggests that investing in residential real estate could yield solid returns over time. Moreover, the higher growth rate in median house prices compared to apartments may indicate that single-family homes could offer better long-term capital gains for investors.
The significant population growth also presents potential for investors to capitalize on rental properties as new residents may look for temporary housing solutions before purchasing their own homes. With this demographic trend, both rental yields and occupancy rates are likely to remain favorable for landlords.
Future Market Outlook for Welling, Alberta
The future market outlook for Welling appears positive based on current trends and underlying drivers. Assuming that the factors contributing to current market conditions persist—namely population growth and stable economic fundamentals—real estate in Welling should continue to appreciate at a healthy pace.
However, potential investors and homeowners should stay informed about regional economic developments, interest rates changes, and national housing policies, as these can have significant impacts on local real estate markets. Should Welling continue to attract new residents and maintain its economic stability, the real estate market is likely to remain robust with ongoing opportunities for property appreciation and investment returns.
Overall, while there are always risks associated with real estate investment, Welling’s current trajectory suggests that it remains an appealing market for both residential buyers and real estate investors looking toward future growth.
