Wembley, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.3% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $385,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,200 |
| 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 Wembley, Alberta currently presents a steady growth pattern. With a median house price of $495,000 and an annual appreciation trend of 3.3%, the market is experiencing healthy growth. Similarly, apartments are also following an upward trajectory with a median price point of $295,000 and a year-over-year price increase of 2%. This consistent growth in property values suggests that Wembley’s market is stable and could be attractive to long-term investors.
The population of Wembley has been expanding at a rate of 4.8%, which is significantly higher than the national average. This influx of residents can be attributed to several factors such as employment opportunities, lifestyle preferences, and the town’s overall livability. The growing population is likely driving demand for housing, contributing to the rising property values witnessed in the region.
Investment Opportunities and Potential
Given the steady growth in both house and apartment prices coupled with the robust population increase, Wembley offers promising investment opportunities. The sustained demand for housing should continue to push property values upward, which indicates potential for capital gains for those investing in residential properties.
Investors seeking long-term appreciation might consider single-family homes due to their higher year-over-year price increase compared to apartments. However, apartments may offer more affordable entry points into the real estate market and could appeal to first-time buyers or investors looking for rental properties. As rental demand is likely to grow alongside the population, this could present an opportunity for steady rental income streams.
Future Market Outlook
The future real estate market outlook for Wembley, Alberta remains optimistic based on current data. If the trends of population growth and property value increases continue at their current pace or even accelerate, it is reasonable to expect that the housing market will remain robust.
However, potential investors should also consider external economic factors such as interest rates, employment rates within the region, and broader economic conditions that could influence buyer affordability and impact market dynamics. Monitoring these indicators will be crucial for anyone looking to invest in Wembley’s real estate over the coming years.
In conclusion, Wembley’s real estate market appears poised for continued growth given current trends and demographic shifts. As with any investment decision, due diligence combined with an understanding of local market conditions will be key in capitalizing on opportunities within this dynamic Alberta community.
