Wembley, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $570,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,000 |
| Population Change | 5.1% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
As of the latest data, the real estate market in Wembley, Alberta is experiencing steady growth. The median house price in the region stands at $485,000, marking a year-over-year increase of 3%. This indicates a stable appreciation in property values and suggests a healthy demand for single-family homes.
The market for apartments is also seeing an upward trend with the median apartment price at $295,000 and an annual growth rate of 2.5%. This somewhat slower pace compared to houses may reflect a different demand dynamic or a greater supply of apartment units.
Wembley’s population has grown to 15,200, with a robust growth rate of 5.14%. This demographic expansion is likely contributing to the sustained demand for housing in the area.
Investment Opportunities and Potential
The current market conditions in Wembley present appealing opportunities for real estate investors. With consistent growth in property values and a strong population increase, investment in residential properties could yield favorable returns. The steady appreciation rate for both houses and apartments indicates that investments are not only relatively safe but also poised for capital gains over time.
The ongoing population growth translates into persistent demand for rental properties. Investors might consider leveraging this by acquiring assets to cater to this segment, potentially securing income through rentals while capitalizing on long-term property appreciation.
Future Market Outlook
Looking forward, the real estate market in Wembley appears promising. The continued population growth should drive housing demand further, supporting both the rental and sales markets. Assuming economic conditions remain stable locally and nationally, the real estate market is expected to maintain its current trajectory of modest but consistent growth.
The sustained rise in median house and apartment prices implies that investing now could be advantageous ahead of further potential increases. However, investors should remain vigilant to global economic shifts or local policy changes that may impact future market dynamics.
