Whitecourt, 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 Whitecourt, Alberta, is currently experiencing a steady growth in housing prices. With the median house price at $500,000 and exhibiting a year-over-year increase of 3.5%, the market remains competitive for both buyers and sellers. Apartments are also following a positive trend with a median price of $300,000, which has risen by 2.1% over the past year.
The town’s population stands at 15,000 residents and has seen substantial growth at a rate of 7.1%. This demographic expansion contributes to the increasing demand for housing, thereby influencing market conditions to favor sellers due to heightened demand for available homes.
Investment Opportunities and Potential
The growth trends in Whitecourt’s real estate market offer lucrative opportunities for both residential and commercial investors. The consistent rise in property values indicates a stable investment climate with potential for capital appreciation. Single-family homes, given their higher price increase rate, present significant potential for long-term investments.
Apartments offer an alternative investment opportunity, particularly attractive for those looking to enter the rental market or provide more affordable housing options. With the town’s growing population, there is likely to be sustained demand for rental properties which could lead to stable rental income streams for investors.
Future Market Outlook
As population growth continues to outpace national averages, Whitecourt’s future market outlook appears promising. The consistent upward trend in property values suggests that real estate in this region will continue to be a solid investment. The ongoing population growth will likely maintain pressure on the housing supply, potentially leading to further increases in property prices and rental rates.
Cautious optimism is advisable due to broader economic factors that may influence interest rates and affordability; however, current trends and demographic data support a positive outlook for Whitecourt’s real estate market over the coming years.
