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Coleman, Alberta Real Estate Market Data

Updated: Nov 2024

House

Median price $485,000
Monthly growth 1.1%
Quarterly trend 3.0%
Stock on market 0.7%

Apartment

Median price $295,000
Monthly growth 0.8%
Quarterly trend 1.8%
Stock on market 1.0%

Prices by Number of Bedrooms

Houses

Bedrooms Median Price
2 bedrooms $420,000
3 bedrooms $485,000
4 bedrooms $580,000

Apartments

Bedrooms Median Price
1 bedrooms $240,000
2 bedrooms $340,000
3 bedrooms $430,000

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) 1.6
Land Area (km²) 2,500.5

Market Analysis

Current Market Conditions and Trends in Coleman, Alberta

In Coleman, Alberta, the real estate market is currently experiencing stable growth. The median house price stands at $485,000, with a year-over-year increase of 3%. This indicates a healthy market that is growing at a moderate pace, suggesting that homeowners are seeing a steady appreciation in their property values. Similarly, the median apartment price has reached $295,000, following a slightly lower yet positive trend of 1.8% over the past year. These figures reflect a balanced market that is accessible to both first-time buyers and those looking to upgrade from an apartment to a house.

The population of Coleman has seen an uptick of 3.4%, which can contribute to increased housing demand. This demographic change can impact the real estate market by potentially driving up prices over time if the supply does not keep pace with the growing population.

Investment Opportunities and Potential in Coleman

Given the steady growth in property prices and the increasing population, Coleman presents attractive opportunities for real estate investors. The consistent rise in housing prices suggests that investments in residential properties could yield favorable returns over time. Moreover, with the population growth outpacing many other regions, there is potential for both rental and sale markets to expand.

Investors may also find value in the apartment sector due to its lower median price combined with a positive trend in value growth. The affordability of apartments can appeal to smaller households or individuals who are part of the workforce contributing to Coleman’s development.

Future Market Outlook for Coleman Real Estate

The future outlook for Coleman’s real estate market looks promising based on current trends and demographic shifts. With a strong population growth rate of 3.4%, it is likely that demand for housing will continue to grow. If this demand is met with appropriate development and inventory levels, it could lead to sustained growth in property values while maintaining market stability.

The continued investment in local infrastructure and community services will be crucial in supporting this growth and making Coleman an increasingly desirable place to live. Prospective buyers and investors should monitor local economic factors, planned developments, and changes in housing policies which could all have significant impacts on future market conditions.

In summary, Coleman’s real estate market appears poised for continued gradual growth with potential for good investment returns over the medium to long term. As always, individual investors should conduct thorough research or consult with a local real estate expert before making investment decisions.