Wrentham, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $305,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Wrentham, Alberta is currently experiencing a modest growth trajectory. With a median house price of $495,000, there has been an increase of 3.2% year-over-year, indicating steady demand and a robust housing sector. Similarly, the median apartment price stands at $305,000 with a 2.5% year-over-year increase. These statistics reflect a consistent appreciation in property values which is beneficial for homeowners and investors alike.
Moreover, driven by a population growth of 3.3%, which brings the current population to 15,500 residents, the market is expanding. This influx of new residents may be contributing to the steady price increase as demand for housing becomes more competitive.
Investment Opportunities and Potential
For investors considering Wrentham’s real estate market, there are promising opportunities available. The sustained increase in property values across both residential houses and apartments indicates a healthy investment potential. Given the steady population rise, it is likely that rental properties will see strong demand, suggesting favorable conditions for buy-to-let investments.
The current trends also show potential for long-term capital gain for those looking to invest in property development or to hold assets over time. As the local economy adapts to accommodate the growing population, investors can anticipate new developments and infrastructure which may further stimulate property values.
Future Market Outlook
The future outlook of Wrentham’s real estate market appears optimistic. With ongoing population growth at a rate of 3.3%, it is expected that the demand for housing will continue to rise. This demographic trend suggests that the real estate market should maintain its current trajectory of gradual appreciation in value.
Infrastructure improvements and community development projects that typically follow population increases could also enhance property desirability and further boost market conditions. However, investors should remain cognizant of broader economic factors that could impact interest rates and lending conditions which may ultimately affect the real estate market dynamics.
In conclusion, Wrentham presents as a stable market with continuous growth prospects backed by solid fundamentals such as consistent price increases and population expansion. Investors are advised to monitor local developments closely and consider long-term strategies to capitalize on this market’s potential.
