Blairmore, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Blairmore, Alberta
The real estate market in Blairmore, Alberta is currently experiencing stable growth. The median house price in the region sits at $500,000, which reflects a steady year-over-year increase of 3.5%. This suggests that while prices are rising at a moderate pace, the market is not overheating, providing a balanced environment for both buyers and sellers.
Similarly, the median apartment price has reached $300,000, with a slower yet consistent year-over-year trend of 2.1%. The modest growth rate indicates a potentially more accessible entry point for first-time buyers and investors looking to purchase apartments.
The population of Blairmore is approximately 15,000 residents, with an impressive growth rate of 7.1%. This significant population increase suggests a robust local economy and may predict continued demand for housing in the area.
Investment Opportunities and Potential in Blairmore, Alberta
The current real estate trends in Blairmore indicate healthy investment opportunities. Given the steady growth in housing prices, investors could expect a reliable appreciation of capital assets over time. The single-family home market, with its higher growth rate, might be particularly appealing for those looking for long-term investments.
Apartments in Blairmore also present an attractive opportunity for investors seeking rental properties. With the population on the rise, demand for rental units is likely to increase, which could lead to higher rental income potential and lower vacancy rates.
In addition to residential properties, commercial real estate investors may find opportunities driven by the expanding population that requires more services and retail options.
Future Market Outlook for Blairmore, Alberta
The future market outlook for Blairmore is promising based on current data. The steady growth in property values suggests a sustainable expansion of the real estate market without any immediate signs of a bubble or downturn.
The robust population growth will likely continue to fuel demand for housing. If the local economy remains strong and employment opportunities expand alongside the population, Blairmore can expect ongoing interest from homebuyers and renters alike.
In summary, whether considering short-term gains through flipping properties or long-term investment through rental income and property value appreciation, Blairmore presents several opportunities for discerning investors. Ongoing monitoring of economic indicators will be crucial to maximizing investment returns in this vibrant Alberta market.
