Wetaskiwin, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $400,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| 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 in Wetaskiwin, Alberta
In Wetaskiwin, Alberta, the real estate market has been experiencing steady growth. The median house price currently stands at $485,000, which indicates a moderate year-over-year increase of 2.8%. This suggests a stable market with consistent demand. Similarly, the median apartment price has reached $295,000, with a slightly lower growth trend of 1.9% year-over-year.
The population of Wetaskiwin is on an upward trajectory with a significant growth rate of 4.8%, reflecting strong community expansion and potential increase in housing demand. This demographic shift is likely to have positive implications for the local real estate market as more people may seek housing options in the area.
Investment Opportunities and Potential in Wetaskiwin
The consistent growth in property values coupled with a robust population increase presents attractive investment opportunities. Given the current trends, investors might expect continued appreciation in property values over time. Single-family homes are particularly promising due to their higher appreciation rate compared to apartments.
Moreover, the growing population could lead to heightened rental demand, providing potential for investors interested in rental properties or developments to capitalize on this trend. However, it’s crucial for investors to conduct thorough market research and consider factors such as location within Wetaskiwin, property condition, and future urban development plans that might affect real estate values.
Future Market Outlook for Wetaskiwin
The future market outlook for Wetaskiwin appears positive based on current data. Assuming the continuation of present trends, we can anticipate ongoing gradual increases in property values. The steady rise in population size signals that there could be sustained demand for housing which might further bolster the market.
The modest yet persistent growth in house and apartment prices suggests that the market is not experiencing volatile swings, which could offer a level of stability for long-term investments. Investors and potential homeowners should remain aware of national economic conditions and regional developments that may influence the pace of growth in Wetaskiwin’s real estate market.
To sum up, Wetaskiwin presents an appealing market with room for investment growth backed by solid fundamentals. Stakeholders would do well to monitor key indicators closely while exploring the diverse opportunities this market has to offer.
