Woking, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $487,500 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.8% |
| Stock on market | 0.9% |
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 | $430,000 |
| 3 bedrooms | $487,500 |
| 4 bedrooms | $570,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,300 |
| Previous Population (2020) | 15,000 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.7 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Woking, Alberta, is currently experiencing a period of growth. The median house price stands at $487,500, which indicates a year-over-year increase of 3.8%. This trend suggests a healthy demand for single-family homes and a competitive market for potential buyers. Similarly, the median apartment price is $295,000, reflecting a more moderate year-over-year increase of 2.5%. The consistent rise in property values is indicative of an overall stable real estate market.
Woking’s population has grown by 2% to reach 15,300 residents. This steady population growth contributes to the demand for housing and can be seen as a driving factor behind the upward trends in property values. The current market conditions reflect both the desirability of the area and the confidence investors and homeowners have in the local real estate market.
Investment Opportunities and Potential
Investors considering Woking’s real estate market may find ample opportunities due to its positive growth trends. The steady increase in median house prices suggests that investing in residential properties could yield substantial returns over time. With apartments experiencing a slower rate of price increase, there may be potential for investors to enter the market at a lower point, catering to those looking for more affordable housing options or rental properties.
The ongoing population growth also signifies potential for rental income stability and long-term property value appreciation. This demographic trend is an essential factor for investors who are planning to acquire assets with the expectation of consistent demand.
Future Market Outlook
The future outlook for Woking’s real estate market appears optimistic based on current trends and data. Continued population growth and sustained demand for housing are likely to support further increases in property values over the coming years. If these trends persist, both the single-family home segment and the apartment sector can expect steady growth.
However, investors should remain aware of external economic factors that could influence market dynamics, such as changes in interest rates, employment rates in Alberta, and broader national economic conditions. Diligent monitoring of these variables will be crucial for those looking to capitalize on Woking’s real estate opportunities.
In conclusion, Woking’s real estate market presents a promising landscape for investment with positive trends in property values and population growth signaling robust potential for both short-term gains and long-term investment strategies.
