Burnside, 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 | $450,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 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
The real estate market in Burnside, Alberta is currently experiencing steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the housing sector is showing resilience and a consistent upward trend. Similarly, the apartment sector has seen a median price reach $300,000, with a growth rate of 2.1% from the previous year. The modest yet positive price trends are indicative of a stable real estate environment.
The population of Burnside has risen to 15,000 residents, marking a significant growth rate of 7.1%. This influx of new residents may be contributing to the demand for housing in the area, supporting the current market trends and suggesting that the supply must keep pace with the increasing population.
Investment Opportunities and Potential
Given the steady appreciation in property values, Burnside presents attractive investment opportunities for both residential and rental markets. For investors looking at long-term capital gains, purchasing single-family homes might be advantageous due to the higher year-over-year price increase compared to apartments. With median prices at half a million dollars for houses and $300,000 for apartments, there is flexibility in investment choices depending on budget constraints and desired asset types.
The growing population also suggests potential for rental investments as newcomers will initially look for rental accommodation before committing to home purchases. The consistent increase in apartment prices could indicate a burgeoning demand in this segment as well, which could be exploited by investors focusing on multi-unit residential properties or condominiums.
Future Market Outlook
The future outlook for Burnside’s real estate market remains positive. The ongoing population growth implies continued demand for housing which may support sustained price appreciation. If this trend persists, it can lead to greater investment returns over time. However, potential investors should also consider external factors such as economic policies, interest rates, and employment rates that could impact market conditions.
As long as Burnside maintains its appeal through job creation, quality of life improvements, or other initiatives that attract residents, the real estate market is expected to benefit from these developments. Investors are encouraged to stay informed about local economic trends, infrastructure developments and any changes in zoning laws that might affect future property values.
