Wetaskiwin, 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 Wetaskiwin, Alberta currently presents stable growth. With a median house price of $500,000, the market has experienced a healthy year-over-year increase of 3.5%. This indicates a steady demand for housing, coupled with a sustainable level of price appreciation which is beneficial for both homeowners and investors. The median apartment price rests at $300,000, with a slightly lower year-over-year growth rate of 2.1%. This slower growth in the apartment sector suggests that the demand for single-family homes may be outpacing that for apartments.
The population of Wetaskiwin is approximately 15,000 residents, with an impressive growth rate of 7.1%. This rapid population increase is likely contributing to the housing demand and underpinning the market’s health. Such demographic trends are crucial for sustaining long-term property value growth.
Investment Opportunities and Potential
The current statistics signal promising investment opportunities within Wetaskiwin’s real estate market. Investors should take particular note of the continuous rise in house prices, which have outpaced apartment prices. This could indicate that investing in single-family homes might offer better capital appreciation potential in the mid-to-long term.
Moreover, considering the robust population growth, there is potential for increased rental demand. Thus, purchasing properties with the intent to rent them out could provide investors with a steady income stream while also benefiting from property value appreciation over time.
Given the market conditions, it may also be wise to explore pre-construction or new development projects as these could attract buyers looking for modern amenities and features that align with current lifestyle trends.
Future Market Outlook
Looking forward, Wetaskiwin’s real estate market appears poised for continued growth. The strong foundation laid by consistent population increases and steady economic factors suggests a positive outlook for property values.
If current trends persist, investors can reasonably expect ongoing appreciation in property values, particularly in the single-family home segment. However, it will be important to monitor key indicators such as employment rates, economic diversification, and interest rates as they will play significant roles in shaping future market dynamics.
For those considering entry into this market or expanding their portfolio within it, maintaining a close watch on local and national economic policies will be critical to capture potential investment opportunities and mitigate risks associated with any unforeseen market fluctuations.
