Widewater, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,300 |
| Previous Population (2020) | 15,000 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Widewater, Alberta is currently experiencing steady growth. The median house price stands at $485,000, which represents a 3.2% increase year-over-year. This indicates a healthy demand for housing in the area, likely driven by the locality’s amenities and lifestyle offerings. Furthermore, the median apartment price is $295,000, showing a more modest yet positive trend with a 1.9% gain year-over-year.
The population of Widewater has reached approximately 15,300 residents, growing at a rate of 2%. This consistent population growth contributes to ongoing demand for residential properties and suggests a stable consumer base for local businesses and investors.
Investment Opportunities and Potential
Given the steady increase in property values, investing in Widewater’s real estate shows potential for moderate capital appreciation. Single-family homes present an attractive opportunity due to their stronger growth rate compared to apartments. However, apartments may appeal to investors looking for lower entry points into the market and potentially higher rental yield percentages.
The ongoing population growth also implies opportunities in rental properties as newcomers seek accommodation. Investors could capitalize on this by purchasing properties to cater to various segments of the market—from families looking for more spacious dwellings to professionals seeking smaller, low-maintenance apartments.
Future Market Outlook
The future outlook for Widewater’s real estate market appears promising. If current trends continue, we can expect a gradual but consistent rise in property values. The 3.2% increase in house prices year-over-year suggests that there is room for further growth without the risk of an overheated market.
The sustained 2% population growth should keep demand for housing strong. However, investors must monitor local economic conditions and development plans as they will influence the real estate market’s trajectory. Any significant investments in infrastructure or job-creating ventures could further boost property values and rental demand.
In conclusion, Widewater presents a solid option for real estate investment with its favorable market conditions and promising outlook. As always, potential investors should conduct thorough due diligence and consider working with local real estate experts to navigate the market effectively.
