Claresholm, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $499,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $499,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Claresholm, Alberta, is experiencing a period of steady growth. The median house price currently stands at $499,000, which reflects a year-over-year increase of 4%. This indicates a healthy demand for single-family homes in the area. Similarly, the apartment sector is also witnessing growth, with the median apartment price reaching $295,000 and observing a year-over-year rise of 2.5%. These trends suggest that both segments of the housing market are appreciating, albeit at slightly different rates.
Investment Opportunities and Potential
Investors considering Claresholm will find opportunities in both the residential housing and apartment markets. The steady price increase in single-family homes presents a potential for capital gains over time. Given the median house price is below half a million dollars, there is an accessible entry point for investors looking to enter this segment.
Apartments offer a more affordable investment alternative with a slightly lower appreciation rate. The demand for rental properties could be fueled by the town’s growing population, which has seen an increase of 3.4%. This demographic trend can lead to sustained or increased rental demand, making apartments an attractive option for investors seeking steady rental income with moderate capital appreciation potential.
Future Market Outlook
The future real estate market outlook for Claresholm is cautiously optimistic. The consistent population growth of 3.4% could be a significant driving force behind ongoing demand for housing. If this demographic trend continues, it may lead to further tightening of the housing market and upward pressure on prices.
The current growth trends in both house and apartment prices indicate that investment in Claresholm’s real estate could be promising. However, investors should remain cognizant of broader economic factors and regional developments that can influence local real estate markets.
Continued monitoring of employment rates, infrastructure investments, and regional economic policies will be crucial for accurately forecasting future market conditions and capitalizing on investment opportunities in Claresholm.
