Withrow, 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 Withrow, Alberta, the real estate market is exhibiting signs of steady growth. The median house price in the area currently stands at $500,000, which represents a year-over-year increase of 3.5%. This increment indicates a healthy demand for single-family homes that can be attributed to several factors including the region’s economic stability and quality of life.
The apartment sector is also seeing positive movement with median prices set at $300,000 and experiencing a growth of 2.1% year-over-year. This suggests that smaller households and investors are actively participating in the market, possibly driven by an interest in affordable housing options and rental investments.
Withrow’s population has grown by 7.1%, a considerable rate that implies confidence in the region’s economy and its potential for further development. This demographic expansion contributes to sustained demand for housing across all sectors of the real estate market.
Investment Opportunities and Potential
The consistent rise in property values coupled with considerable population growth underscores significant investment opportunities within Withrow’s real estate market. Single-family homes present a solid investment with their 3.5% appreciation rate, suggesting reliable capital gains prospects for long-term investors.
Apartments offer an attractive entry point for new investors or those looking to diversify their portfolio due to their lower median price yet positive trend in value appreciation. Additionally, the ongoing population increase may elevate rental demand, indicating potential for stable rental income streams from both residential properties.
Investors should also consider emerging neighborhoods and upcoming infrastructure projects that could serve as catalysts for regional development, potentially boosting property values further around those areas.
Future Market Outlook
The future market outlook for Withrow remains optimistic based on current trends and statistics. The steady growth in house and apartment prices points towards a resilient market that may continue to attract both homeowners and investors alike.
Given the robust population growth rate, it is likely that demand for housing will remain strong, underpinning the continued appreciation of property values over time. However, it is important for stakeholders to stay informed about any economic changes or policy adjustments that could impact market dynamics.
In conclusion, Withrow’s real estate market appears poised for sustained growth, offering various opportunities for those looking to invest in residential properties. Monitoring key indicators such as employment rates, infrastructure developments, and migration patterns will be crucial in foreseeing any shifts in this positive trajectory.
