Bergen, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 3.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Bergen, Alberta
The real estate market in Bergen, Alberta is currently experiencing steady growth. With a median house price of $495,000, the market has witnessed a year-over-year increase of 3.2%. This consistent rise reflects a healthy demand for single-family homes in the region. Similarly, the apartment sector has seen a positive trend with the median price reaching $295,000 and growing at a rate of 2.5% over the past year. These statistics signal a robust and stable market for both houses and apartments.
The population of Bergen stands at 15,200 residents and has been growing at a rate of 4.8%, which is quite significant. This demographic expansion is a key driver for housing demand, suggesting continued absorption of real estate inventory and potential upward pressure on prices as supply levels adjust to meet the burgeoning population.
Investment Opportunities and Potential in Bergen, Alberta
Given the steady growth in property values and the strong population increase, Bergen presents an attractive landscape for real estate investment. The sustained growth in median house prices indicates room for appreciation, making it an appealing market for those looking to invest in single-family homes. Similarly, the apartment sector offers opportunities for investors seeking rental properties, especially considering the growing population that may drive rental demand.
Bergen’s real estate market also benefits from its diverse economy and quality of life, drawing interest from both owner-occupiers and investors alike. As such, investment properties in Bergen have the potential to yield favorable returns through both capital appreciation and rental income streams.
Future Market Outlook for Bergen, Alberta
The future real estate market outlook for Bergen appears promising. With population growth well above national averages, demand for housing is likely to remain strong. The consistent increase in property values points towards a continued positive trajectory for both houses and apartments.
However, investors and homebuyers should monitor economic factors that could influence market conditions such as interest rates, employment rates, and regional economic development initiatives that could impact property values. Additionally, any changes to local zoning or development policies could also affect future supply levels and thus influence market dynamics.
In conclusion, if current trends continue alongside positive economic factors within Bergen’s local economy, the real estate market is poised for sustained growth in the near to mid-term future.
