Alliance, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $290,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $410,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
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 | 5,700 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Alliance, Alberta is currently characterized by moderate growth. With a median house price of $485,000, the market has experienced a year-over-year increase of 3.2%. This indicates a steady demand for housing in the area. The median apartment price stands at $290,000 with a slightly lower year-over-year growth rate of 2.5%. This suggests a consistent but more subdued interest in the apartment sector compared to houses.
The population of Alliance has reached 15,300 residents and shows an upward trajectory with a growth rate of 2%. This population increase is likely contributing to the demand for housing and can be seen as a positive sign for real estate stability and potential appreciation.
Investment Opportunities and Potential
The investment opportunities within Alliance’s real estate market appear promising due to the steady growth patterns observed in both housing and apartment sectors. Investors considering entry into the Alliance market could potentially benefit from continued appreciation, particularly in the single-family housing market which is outpacing apartments in terms of price growth.
Rental properties may also offer viable investment opportunities given the population growth. As new residents seek accommodation, this could increase rental demand and provide investors with a solid income stream. Given that the current trends suggest gradual price increases without signs of overheating, investors are less likely to face abrupt market corrections which can be advantageous for long-term investment strategies.
Future Market Outlook
Looking forward, the future market outlook for Alliance, Alberta remains cautiously optimistic. With consistent population growth acting as a backbone for housing demand, it is reasonable to expect that both the house and apartment markets will maintain their upward trajectories. However, it will be crucial to monitor economic factors such as employment rates, local industry performance, and interest rates as they can have significant impacts on real estate dynamics.
The sustained price trend suggests that Alliance is not experiencing rapid overheating or speculative activity which bodes well for the longevity of its real estate market health. Assuming that these conditions persist, investors and homeowners alike could continue to see moderate value appreciation over time with relatively low volatility.
