Bergen, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $490,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.8% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $490,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| 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 current real estate market in Bergen, Alberta, is characterized by steady growth. The median house price in the area stands at $490,000, representing a year-over-year increase of 3.2%. This suggests a stable market with moderate appreciation in property values, which can be attributed to favorable economic conditions and demand that matches or exceeds the current supply of homes.
Apartment prices are also on the rise, though at a slightly slower pace, with the median value reaching $295,000 and trending upward at a rate of 1.8% from the previous year. This difference in growth rates between houses and apartments may reflect a stronger demand for single-family homes in Bergen.
The population of Bergen has grown to 15,500 inhabitants, reflecting an increase of 3.3%. This population growth is significant as it can drive housing demand further, potentially leading to tighter market conditions if new housing does not keep pace with the increasing number of residents.
Investment Opportunities and Potential
Given the steady appreciation in both house and apartment prices, Bergen presents itself as a promising location for real estate investment. Single-family homes offer potential for capital gains due to their higher rate of price growth. Investors looking to purchase rental properties might find houses particularly attractive since they tend to appeal to long-term tenants such as families seeking stability.
Apartments also offer investment opportunities, especially for those interested in targeting professionals or smaller households who may prefer lower maintenance living arrangements. With the slower growth rate in apartment prices compared to houses, investors might find more competitive entry points into the market while still benefiting from the overall positive price trend.
The ongoing population growth further enhances Bergen’s investment potential by creating a sustained demand for housing. Investors should monitor new housing developments and infrastructure improvements as these factors could impact future property values and rental market dynamics.
Future Market Outlook
The future outlook for Bergen’s real estate market appears optimistic based on current trends and demographic indicators. As long as the population continues to grow at a healthy rate, demand for housing is likely to remain robust. If this demand is met with a proportionate increase in supply, we can expect the market to maintain its stability with continued gradual appreciation in property values.
Prospective investors should remain aware of local economic developments and any changes in housing policies that could affect market conditions. Monitoring interest rates will also be crucial since they directly impact affordability and can influence buyer activity within the market.
In conclusion, Bergen’s real estate market shows promising signs for both homeowners and investors. By staying informed about local trends and keeping an eye on broader economic indicators, stakeholders can make well-informed decisions to capitalize on Bergen’s growing real estate landscape.
