Barrhead, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.8% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| 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 Barrhead, Alberta, is currently experiencing a steady growth trend. With a median house price of $485,000, the market has seen a year-over-year increase of 2.8%. This incremental growth indicates a stable demand for housing in the region. Similarly, apartments in Barrhead are also following an upward trajectory, with the median price standing at $295,000 and witnessing a year-over-year rise of 1.8%. The consistent appreciation of property values suggests that Barrhead’s real estate market is resilient and could be attractive to homebuyers and investors alike.
The population of Barrhead stands at approximately 15,000 residents and has been growing at a rate of 3.4%. This increase in population is likely contributing to the demand for housing and could be playing a role in the steady price increases observed in the market.
Investment Opportunities and Potential
Considering the current trends, Barrhead presents a variety of investment opportunities. The continuous growth in population and moderate property price increases point towards a potential for rental properties to meet the housing demand. Investors could benefit from purchasing residential properties with the intention of generating rental income as well as capitalizing on long-term property value appreciation.
Single-family homes, given their higher median price point and year-over-year growth rate, might offer more significant capital gains over time compared to apartments. However, apartments could provide more accessible entry points into the real estate market for new investors or those with more conservative investment strategies. Therefore, investment decisions should be aligned with individual financial goals and risk tolerance.
Future Market Outlook
The future outlook for Barrhead’s real estate market appears cautiously optimistic. With a robust population growth rate that surpasses many other regions, there is an underlying support for continued demand in housing. Should economic conditions remain favorable and the local job market continue to grow—potentially attracting more residents—the real estate market is poised to maintain its upward trend.
However, investors should remain vigilant and consider external factors such as interest rates changes, economic shifts both provincially and nationally, as well as any policy changes related to real estate that may impact the market dynamics. Careful analysis of ongoing trends and staying informed about local developments will be crucial for anyone looking to invest or participate in Barrhead’s real estate market.
