Westerose, 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 Westerose, Alberta has been exhibiting steady growth, with the median house price currently standing at $500,000, marking a year-over-year increase of 3.5%. This suggests a sustained demand for housing in the area, possibly buoyed by favorable economic conditions and the region’s overall appeal to homebuyers. Additionally, the median apartment price is noted at $300,000, with a slightly lower growth rate of 2.1% year-over-year. This differential in growth rates between houses and apartments may indicate a stronger preference or demand for single-family homes in this market.
Investment Opportunities and Potential
Given the consistent increase in property values, investors might find Westerose an attractive market for both short-term gains and long-term investment. The 7.1% population growth is particularly noteworthy as it can signal future demand for housing, thereby potentially driving property values even higher. This demographic trend can be leveraged by investors looking to engage in new residential developments or to hold existing properties as rental units, capitalizing on the increasing population’s housing needs.
Future Market Outlook
The outlook for the Westerose real estate market remains positive. The steady growth in house and apartment prices reflects a healthy market that is likely to continue benefiting from the robust population increase. As more people move to Westerose, demand for housing is expected to rise which should support continued growth in property values. However, it’s important for stakeholders to monitor economic indicators and development plans closely as these factors will influence the sustainability of current trends.
