Coalhurst, 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
The real estate market in Coalhurst, Alberta is currently experiencing steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing healthy appreciation rates. Similarly, the apartment sector is also witnessing growth with a median price of $300,000 and a 2.1% price increase from the previous year. This consistent upward trend in property values indicates a robust market condition that is attracting homeowners and investors alike.
The population of Coalhurst stands at 15,000 and has seen a significant population growth rate of 7.1%. This demographic expansion is one of the drivers behind the housing demand, contributing to the current upward trend in pricing.
Investment Opportunities and Potential
Considering the sustained increase in property values and the growing population, Coalhurst presents attractive investment opportunities. The demand for housing is expected to remain strong due to the town’s population growth, which can lead to higher rental occupancy rates and potential for rental income growth for investors interested in buying properties to lease.
The ongoing development of infrastructure and community amenities in response to the growing population may also contribute to an increased demand for both residential and commercial real estate in Coalhurst. This creates diverse investment opportunities ranging from traditional buy-and-hold residential properties to more strategic commercial or mixed-use developments.
Future Market Outlook
The future market outlook for Coalhurst remains positive. Given the current trends and the steady year-over-year price increases for both houses and apartments, one can anticipate continued growth in property values over the short to medium term. However, it’s important for investors and homebuyers to monitor potential changes in economic factors that could affect affordability, such as interest rate fluctuations or shifts in employment rates.
The strong population growth serves as a fundamental indicator that demand for housing will persist, potentially leading to a seller’s market where demand outpaces supply, thereby exerting further upward pressure on prices. Nevertheless, prospective buyers should exercise due diligence by considering local economic indicators, infrastructure developments, and long-term community planning initiatives when making investment decisions.
In conclusion, Coalhurst’s real estate market shows promising signs for sustained growth backed by solid fundamentals. Both homeowners looking to enter the market and investors seeking long-term value have compelling reasons to consider Coalhurst as a viable location for their real estate endeavors.
