Winfield, 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 in Winfield, Alberta
Winfield’s real estate market is currently characterized by steady growth. The median house price in the area stands at $500,000, with a positive year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes, which could be attributed to the area’s appealing lifestyle and amenities that attract buyers. Meanwhile, apartments are also seeing appreciation but at a slightly lower rate; the median apartment price is $300,000 with an annual growth of 2.1%. This diversity in housing price trends suggests a balanced market that caters to different segments of buyers and renters.
The demographic trend is also an essential factor influencing the Winfield real estate market. With a population of 15,000 and an impressive growth rate of 7.1%, there’s an increasing demand for housing. More people moving to the area likely means more potential homebuyers and tenants, contributing to the upward pressure on property prices and creating a dynamic real estate environment.
Investment Opportunities and Potential in Winfield, Alberta
Investors looking at Winfield will find potential due to its growing population and steady property value increase. The consistent rise in house prices suggests that purchasing residential properties could yield solid returns over time. Single-family homes represent a particularly promising investment given their more substantial year-over-year price increase compared to apartments.
The growth rate in population hints at future demands for rental properties, making multi-unit residential buildings like apartments an attractive long-term investment. While the annual appreciation rate for apartments is relatively lower than houses, it indicates stability and offers investors a less volatile asset with continuous rental income possibilities.
Future Market Outlook for Winfield, Alberta
The future of Winfield’s real estate market looks optimistic due to several positive indicators. The strong population growth of 7.1%, well above national averages, suggests that demand for housing will continue to rise. As more people are attracted to the area for its quality of life or employment opportunities, the need for both ownership and rental properties will likely increase.
The current appreciation trends indicate a potential for ongoing property value increases. However, investors should monitor local economic factors and development plans as they can impact these trends significantly. Overall, Winfield presents as a market with robust growth potential for both residential owners and real estate investors alike.
In conclusion, Winfield offers a compelling mix of growth dynamics that suggest both immediate and long-term opportunities within its real estate market. With careful analysis and strategic investments, stakeholders can capitalize on this market’s evolving landscape.
