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
The real estate market in Winfield, Alberta is currently experiencing steady growth. The median house price stands at $500,000 with a year-over-year increase of 3.5%. This indicates a stable upward trend in the housing market, suggesting a healthy demand for single-family homes. Similarly, the median apartment price has seen a rise to $300,000, marking a 2.1% increase compared to the previous year. The moderate growth in apartment prices can be attributed to an increasing interest in more affordable and low-maintenance living spaces.
Winfield’s current population is approximately 15,000 residents with a robust growth rate of 7.1%. This significant population increase is likely contributing to the demand for housing and influencing the real estate market trends positively.
Investment Opportunities and Potential
The positive trends in Winfield’s real estate market present potential investment opportunities. The consistent increase in property values suggests that purchasing real estate in this area could lead to capital gains over time. Given that the population growth exceeds national averages, there is also potential for rental property investments due to increased demand for housing.
Investors might consider diversifying their portfolios by investing in both single-family homes and apartments to capitalize on different segments of the market. Moreover, the town’s growth suggests that there could be opportunities for new development projects or renovations of existing properties to meet the changing needs of the community.
Future Market Outlook
The future outlook of Winfield’s real estate market appears promising based on current trends and demographic data. If the population continues to grow at its current rate, demand for housing is likely to remain strong which could further drive property values upwards. Additionally, if economic conditions remain favorable and interest rates stable, the real estate market should continue to thrive.
However, prospective investors and homeowners should monitor external economic factors such as employment rates, local industry performance, and governmental policies affecting homeownership incentives or taxation as these can have significant impacts on market conditions.
In conclusion, Winfield presents an attractive market for both residential property buyers and real estate investors. With careful consideration of long-term trends and vigilant observation of economic indicators, stakeholders can make informed decisions within this dynamic real estate environment.
