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 an upward trend of 3.5% year-over-year, the housing market shows resilience and continued appreciation. This indicates a healthy demand for single-family homes in the area. Similarly, the median apartment price stands at $300,000 with a slower growth rate of 2.1% year-over-year, suggesting a stable market for multi-family dwellings.
Coalhurst’s population has grown by 7.1%, reflecting the town’s increasing attractiveness to both homeowners and investors. The influx of residents could be attributed to Coalhurst’s proximity to larger urban centers like Lethbridge, providing residents with a balance between small-town living and access to city amenities.
Investment Opportunities and Potential
The steady increase in property values coupled with significant population growth underscores the potential for investment opportunities in Coalhurst’s real estate market. Investors may find particular interest in single-family homes due to their higher appreciation rate. Moreover, the growth in population suggests a likely sustained demand for housing in the near future, potentially offering strong rental yields or capital gains on property investments.
The apartment sector, while growing at a slower pace, presents opportunities for those looking to cater to individuals or smaller households who may prefer affordable housing options or lack the means or desire to invest in stand-alone houses. Given the robust population increase, this segment might also experience heightened demand over time.
Future Market Outlook
Looking ahead, Coalhurst’s real estate market is poised for continued growth. The persistent rise in property values across housing types signifies confidence in the local economy and its ability to attract new residents. The substantial population growth not only serves as a key driver for housing demand but also signals a strengthening community that could support further development and infrastructure improvements.
While current trends point towards a positive trajectory for both house and apartment prices, investors should closely monitor economic factors that could influence market conditions such as employment rates, interest rates, and regional development plans. Overall, Coalhurst presents as a promising location for real estate investment with expectations of ongoing appreciation and growth potential.
