Wellington, 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 (2025) | 15,000 |
| Previous Population (2020) | 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
The real estate market in Wellington, Alberta is currently experiencing steady growth. With a median house price of $500,000, the market has seen a 3.5% year-over-year increase, indicating a healthy demand for single-family homes. The median apartment price stands at $300,000, growing at a slightly slower pace with a 2.1% year-over-year trend. This growth can be partly attributed to Wellington’s expanding population, which has grown by 7.1%, suggesting an influx of new residents and potential homebuyers.
Investment Opportunities and Potential
The consistent rise in property values coupled with the significant population growth presents a compelling case for investment in Wellington’s real estate market. Single-family homes are particularly attractive given their higher appreciation rate of 3.5%. However, apartments also offer a solid investment opportunity, especially for those looking to tap into the rental market catering to smaller households or individuals attracted by the more affordable pricing relative to houses.
Future Market Outlook
Looking forward, the Wellington real estate market shows promise for continued growth. The strong population increase suggests sustained demand for housing which is likely to keep pushing property values upward. Assuming the local economy remains robust and supportive of job creation, we can anticipate that both the median house and apartment prices will maintain their upward trajectories. Investors and potential homebuyers should regard Wellington as a market with healthy prospects for mid to long-term returns on real estate investments.
