Burdett, 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 Burdett, Alberta, the real estate market is experiencing steady growth. The current median house price stands at $500,000, with a year-over-year increase of 3.5%. This reflects a healthy, appreciating market for single-family homes. Similarly, the median apartment price is currently $300,000, with a more modest appreciation rate of 2.1% year-over-year.
The population in Burdett has shown significant growth with an increase of 7.1%, indicating a burgeoning local economy and an inflow of new residents. This demographic expansion contributes to the demand for housing and supports the current upward trend in property values.
Investment Opportunities and Potential
Burdett’s real estate market presents promising investment opportunities, particularly in the residential sector. Investors can capitalize on the steady house price appreciation by investing in single-family homes that are likely to continue gaining value over time. The apartment sector also offers potential for investors looking for lower entry points and stable rental income, especially considering the consistent growth in population which suggests a sustained or increasing demand for rental properties.
The ongoing upward trend in property prices may also signal an opportunity for developments in both housing and commercial sectors to accommodate the growing population and their needs. Additionally, given the healthy state of the market, there could be prospects for flipping properties after value-adding renovations.
Future Market Outlook
The future market outlook for Burdett, Alberta remains positive based on current trends and data. Assuming similar economic conditions persist with continued population growth, the demand for housing is expected to support ongoing appreciation in property values. The steady rise in house prices suggests that Burdett will remain an attractive location for both living and investment purposes.
However, as with any real estate market analysis, it is important to keep an eye on broader economic indicators and local developments that could impact these projections. Factors such as employment rates, interest rates, and regional economic policies should be monitored closely as they can significantly influence market dynamics.
In summary, Burdett presents a robust real estate market with strong fundamentals supporting both immediate investment opportunities and a positive long-term outlook.
