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 is currently experiencing a stable growth pattern. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This consistent rise in housing prices indicates a healthy demand within the market, reflecting confidence among homeowners and investors alike. Similarly, apartments are showing a positive trend with the median price of $300,000 and a growth rate of 2.1% year-over-year. The sustained growth for both housing types suggests that Westerose’s real estate market is robust and less volatile compared to more fluctuating urban markets.
Investment Opportunities and Potential
Given the current market conditions, Westerose presents several attractive investment opportunities. The steady appreciation in property values provides potential for capital gains over the medium to long term. Investors looking to engage with the Westerose real estate market may find single-family homes particularly appealing due to their higher year-over-year price increase relative to apartments.
The population of Westerose has grown by 7.1%, indicating a burgeoning community that could drive further demand for housing. This demographic trend can catalyze development in residential sectors and potentially commercial real estate as new residents seek services and amenities. Thus, investors could also consider diversifying into retail spaces or multifamily units to accommodate this growing population.
Future Market Outlook
The future outlook for Westerose’s real estate market remains optimistic based on current indicators. Population growth is a significant driver that will likely sustain housing demand. The continuing trend of gradual price increases suggests that the market will remain stable without overheating or cooling down abruptly.
This positive trajectory is conducive to long-term investment strategies, as it points towards ongoing appreciation of asset values and potential rental income growth due to increasing demand from new residents. As such, both residential and commercial investments hold promise for steady returns assuming that economic conditions remain favorable and supportive infrastructure continues to develop in tandem with population growth.
