Burdett, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $490,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
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 | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,400 |
| Population Change | 5.6% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Burdett, Alberta is currently experiencing a period of growth, with the median house price sitting at $490,000, which indicates a year-over-year increase of 4%. Similarly, the median apartment price has reached $295,000, with a slightly lower year-over-year increase of 2.5%. This consistent upward trend in property values suggests a stable and potentially profitable market for homeowners and investors alike.
With a population of 15,200 that has grown by 5.6%, Burdett is attracting new residents and contributing to increased housing demand. This demographic growth can be attributed to various factors including local economic opportunities, quality of life, and investment in infrastructure. The increasing population is a positive sign for real estate demand and could indicate sustained or increased property value growth.
Investment Opportunities and Potential
The current trends in Burdett’s real estate market provide a variety of investment opportunities. The steady increase in property values, combined with the town’s population growth, presents potential for both short-term gains through property flipping and long-term investment through rental properties. With houses appreciating at 4% annually, real estate investors could see significant capital gains over time.
Apartments offer a more accessible entry point into the market at $295,000, along with a 2.5% appreciation rate. They represent an attractive option for first-time investors or those looking to diversify their portfolio. Considering the population increase and the consequent rise in housing demand, rental properties may offer high occupancy rates and stable rental income streams.
Future Market Outlook
The future outlook for Burdett’s real estate market remains optimistic based on current data trends. The continuous population growth indicates an ongoing demand for housing which should support the maintenance or possible increase of current appreciation rates. Given the stability of the market thus far, it is reasonable to anticipate that both house and apartment prices will continue their upward trajectory.
However, investors should remain aware of broader economic conditions such as interest rates, employment rates in Alberta and specific policy changes affecting real estate to refine their expectations for future growth. Vigilance regarding these external factors will be crucial in maximizing investment returns in Burdett’s dynamic real estate market.
