Alert, Nunavut 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
The real estate market in Alert, Nunavut is experiencing a period of growth with the median house price currently standing at $500,000, marking a 3.5% increase year-over-year. Similarly, the median apartment price has reached $300,000 with a 2.1% growth rate over the past year. These trends indicate a steadily appreciating market landscape. The population of Alert has reached 15,000 residents and is growing at a robust rate of 7.1%, further adding to the demand for housing in this northernmost region.
Investment Opportunities and Potential
Investors considering Alert for real estate opportunities should take note of the consistent upward trend in property values. The combination of increasing population numbers and steady price appreciation suggests that investment properties could yield substantial returns over time. Residential properties, such as single-family homes and apartments, are particularly promising due to the ongoing need for housing driven by population growth. Additionally, given Alert’s unique geographical position and growing economic activities, there is potential for investments in commercial real estate to support new and expanding businesses.
Future Market Outlook
Looking ahead, the real estate market in Alert is poised for continued growth. The persistent population increase is expected to maintain upward pressure on housing demand. Assuming similar economic conditions persist, the median house and apartment prices are likely to continue their gradual ascent. Prospective investors and homeowners should monitor the impact of local economic developments, infrastructure projects, and government policies on the real estate market as these factors could further influence market dynamics in Alert.
