Burmis, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $495,000 |
Monthly growth | 1.1% |
Quarterly trend | 3.2% |
Stock on market | 0.7% |
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 | $425,000 |
3 bedrooms | $495,000 |
4 bedrooms | $615,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $340,000 |
3 bedrooms | $440,000 |
Demographics
Current Population (2025) | 15,200 |
Previous Population (2020) | 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
The real estate market in Burmis, Alberta is currently experiencing steady growth. The median house price stands at $495,000, reflecting a year-over-year increase of 3.2%. This indicates a stable and growing housing market. On the other hand, the median apartment price is $295,000, with a slightly lower year-over-year growth of 2.5%. The consistent growth across different types of properties suggests that Burmis maintains a balanced appeal for both single-family homes and apartment dwellings.
Investment Opportunities and Potential
Investors considering the Burmis real estate market are met with promising opportunities. The region’s population has grown by 4.8%, signalling a strong demand for housing. This demographic expansion could drive rental demand, making investment in rental properties particularly attractive. Additionally, the positive trends in property value appreciation provide an optimistic outlook for long-term capital gains. With median prices for both houses and apartments showing upward momentum, investors have the potential to capitalize on both immediate cash flow from rentals and future resale value.
Future Market Outlook
Looking ahead, the Burmis real estate market is poised for continued growth. The solid population increase of 4.8% lays the groundwork for sustained demand in housing. Given the current trends of property value appreciation—3.2% for houses and 2.5% for apartments—the market is expected to remain robust in the foreseeable future. This progression suggests that both buyers looking for homes and investors seeking profitable ventures will find Burmis an attractive locale. As such, stakeholders should monitor local economic drivers and stay informed about regional developments that may impact future market conditions.