Worsley, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.5% |
| Quarterly trend | 1.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| 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 Worsley, Alberta
The real estate market in Worsley, Alberta is currently experiencing steady growth. The median house price in the area stands at $485,000, reflecting a modest year-over-year increase of 2.8%. This indicates a growing market where property values are gradually appreciating. The median apartment price is somewhat lower, at $295,000, with a slower growth rate of 1.5% over the past year.
These trends suggest a balanced market that is neither overheating nor declining rapidly. The consistent increase in prices is a positive sign for property owners and potential buyers looking for long-term value appreciation. Additionally, with a population of 15,000 that has grown by 3.4%, there seems to be a healthy demand for housing driven by demographic factors.
Investment Opportunities and Potential in Worsley, Alberta
Given the current market dynamics, Worsley presents several attractive investment opportunities. The steady rise in house and apartment prices implies that investments made now could yield solid returns as market conditions continue to improve. Moreover, the population growth rate surpasses the national average, suggesting an increasing demand for housing which could benefit landlords and real estate investors alike.
Investors should consider both residential properties and apartments as viable options. While houses offer higher median prices and larger potential capital gains, apartments provide more accessible entry points into the property market and may appeal to a broader rental demographic.
Future Market Outlook for Worsley, Alberta
The future outlook for Worsley’s real estate market appears promising. Population growth is likely to sustain demand for housing, underpinning property values. If current trends persist or improve, homeowners can expect continued appreciation of their property investments. For prospective buyers, entering the market now could be advantageous before prices potentially escalate further.
However, investors should remain cognizant of external economic factors that could affect the local housing market such as interest rates, employment levels, and regional economic development which are not reflected in this analysis but play a crucial role in influencing future trends.
In conclusion, Worsley’s real estate market demonstrates stable growth with favorable conditions for both homebuyers and investors. Maintaining vigilance on broader economic indicators will be key to making informed decisions moving forward.
