Withrow, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,100 |
| Previous Population (2020) | 14,400 |
| Population Change | 4.9% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Withrow, Alberta, is currently experiencing a steady growth phase as indicated by the year-over-year price trends. The median house price is currently at $495,000, marking a 4% increase from the previous year. This growth trend suggests a healthy demand for houses in the area.
In contrast, apartments are showing a slightly more modest growth rate, with the median price standing at $295,000 and a 2.5% rise year-over-year. This differential in growth rates between houses and apartments may reflect a stronger preference for single-family homes or possibly a lag in apartment market adjustments.
The population of Withrow has reached 15,100 residents, with an impressive growth rate of 4.86%. This demographic expansion is likely contributing to the increased demand for housing within the region and bolstering real estate values.
2. Investment Opportunities and Potential
The current trajectory of the Withrow real estate market presents several promising investment opportunities. The steady growth in house prices coupled with significant population increases indicates a robust market with potential for long-term capital gains. Investors might find particular value in single-family homes which have shown stronger appreciation over the past year.
Apartments also offer investment potential, especially if targeting the segment of the population seeking more affordable or smaller-scale living spaces. The slower growth rate in apartment prices may allow investors to enter the market at a lower point while still participating in the overall upward trend.
In addition to residential properties, Withrow’s expanding population could signal opportunities in real estate development and services catering to new and existing residents.
3. Future Market Outlook
The future outlook for Withrow’s real estate market remains optimistic based on current trends and data. Given the 4% annual growth in house prices and ongoing population increase, it is reasonable to anticipate continued demand for housing which should support further price appreciation.
Moreover, as new infrastructure and amenities are likely to follow the growing population, this could attract even more residents to Withrow, thus sustaining or potentially accelerating current trends. However, investors should also remain mindful of broader economic conditions that can impact interest rates and affordability, which in turn may affect market dynamics.
To summarize, informed by solid population growth figures and consistent property value appreciation rates, Withrow’s real estate market appears poised for sustained positive performance. Nevertheless, careful analysis of future economic indicators will be crucial for long-term investment strategies.
