Widewater, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.8% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $585,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $335,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Widewater, Alberta, currently showcases a stable growth pattern. The median house price in the region stands at $485,000, which marks a year-over-year increase of 2.8%. This gradual appreciation indicates a healthy demand coupled with sustainable growth, suggesting that the housing market is robust and resilient.
Similarly, the apartment sector shows a positive trend albeit at a slightly modest pace. The median apartment price is $295,000, experiencing a year-over-year increment of 1.8%. This suggests that smaller living spaces are also in demand, but the rate of appreciation is somewhat slower compared to standalone houses.
The population of Widewater stands at approximately 15,500, with an impressive growth rate of 3.3%. This demographic trend provides a consistent influx of potential homeowners or renters, which supports the real estate market stability.
Investment Opportunities and Potential
In light of the current market conditions, investment opportunities in Widewater appear favorable. With both sectors (houses and apartments) showing steady appreciation, investors can expect continued growth in property values. Investment in standalone houses seems particularly promising due to the higher growth rate observed in that segment.
The strong population growth further bolsters the case for real estate investment here. As more people move into the area, demand for housing is likely to increase, which could drive prices upward. Additionally, rental properties may benefit from the growing population as newcomers seek temporary or long-term residences.
In terms of future development projects and infrastructure improvements within Widewater or its vicinity, investors should monitor these closely as they can significantly impact property values and rental demand.
Future Market Outlook
The future outlook for Widewater’s real estate market remains optimistic based on current trends and demographic data. Assuming consistent population growth and economic stability within Alberta, both housing segments should maintain their upward trajectory. However, it’s important for investors to consider external economic factors such as interest rates, employment rates in Alberta, and broader provincial economic policies that could affect the real estate market.
Maintaining vigilance on government housing incentives or regulatory changes will be key in anticipating any shifts in market dynamics. Given that trends continue as they are without major disruptions, Widewater’s real estate market appears poised for ongoing growth and presents an attractive opportunity for both homebuyers and investors alike.
