The Town of Penhold is located approximately half way between Red Deer and Innisfail. Roughly 13 km south of Red Deer on Highway 2A, and the junction of Highway 42. It is a small growing bedroom community with a population of 1,961 (2006 stats). The potential for future growth is definitely there, making Penhold an ideal Town to invest in for future development. With its proximity to the city of Red Deer and the town of Innisfail, Penhold enjoys the advantages of a small town without lacking any of the amenities of a large city.
Infrastructure is in place to handle growth on many levels with land annexed and zoned for industrial, residential and recreation not to mention commercial. Industrial and commercial growth should be considered imminent in my opinion. Penhold lies on Highway 2A a short drive from Red Deer and the Red Deer Regional Airport. Penhold is a few short kilometres from Highway 2, and is bordered to the north by Highway 42. Great access for larger trucks and commuting. Land values are typically 20% lower for a comparable lot in Red Deer.
It appears that many people think Penhold is a great place to live as well with 51 properties being sold so far this year compared to 30 properties in 2006. 2007 saw a new residential subdivision take shape and sales realized as well as further expansion on the south residential section.
The Real Estate Market changes:
Jan. 1 - Nov. 1, 2006 Average Sales Price: $214,820
Jan. 1 - YTD 2007 Average Sales Price: $274,451
For more information on Penhold feel free to give me a call.
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