Bearspaw, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $1,200,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 1.0% |
Apartment
| Median price | $350,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.5% |
| Stock on market | 0.9% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $900,000 |
| 3 bedrooms | $1,200,000 |
| 4 bedrooms | $1,500,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $280,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 6.0 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Bearspaw, Alberta currently presents a stable environment with moderate growth. The median house price stands at $1,200,000, reflecting a year-over-year increase of 2.8%. This indicates a slow but steady appreciation in property values which is supportive of a healthy market. Furthermore, the median apartment price is currently $350,000 with a smaller growth rate of 1.5% year-over-year. Such modest increases suggest that the market is not overheating and is maintaining affordability for potential buyers.
The area’s population has grown by 3.4%, indicating an influx of new residents or natural population growth. This demographic change could be contributing to the demand for housing in the region and could potentially drive future price increases if the trend continues.
Investment Opportunities and Potential
Given the current market trends, investment opportunities in Bearspaw are promising, especially for those looking at long-term capital gains. The consistent increase in house prices suggests that investing in residential properties could yield positive returns as the market demonstrates resilience and steady growth.
Apartments offer an alternative investment route with a lower entry point at $350,000. The slower growth rate for apartments may appeal to investors seeking more stable assets with rental income potential rather than rapid capital appreciation.
With population growth surpassing 3%, demand for housing is likely to remain strong, potentially making Bearspaw an attractive location for real estate investment and development projects geared towards meeting this increasing demand.
Future Market Outlook
The future outlook of the Bearspaw real estate market appears cautiously optimistic. With continuous population growth and a sustained increase in property values, it is expected that the market will maintain its current trajectory in the near term.
However, investors and homebuyers should note that external economic factors such as interest rates, employment rates, and regional economic developments can significantly influence local real estate markets. It is essential to monitor these factors alongside local trends to make informed decisions.
In conclusion, Bearspaw’s real estate market presents an opportunity for stable and potentially rewarding investments. With careful consideration of broader economic conditions and ongoing monitoring of local market data, stakeholders can navigate this market effectively.
