Coleman, 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 Coleman, Alberta, is currently experiencing a period of steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market demonstrates resilience and sustained demand. Similarly, the median apartment price stands at $300,000, with a more modest growth trend of 2.1% compared to the previous year. These statistics reflect a stable market that is managing to maintain upward momentum despite broader economic uncertainties.
The population of Coleman has seen significant growth, with a 7.1% increase recently, suggesting an influx of new residents and potential homebuyers. This demographic shift is likely contributing to the healthy demand for housing in the area.
Investment Opportunities and Potential
Given the current trends in housing prices and population growth, Coleman represents an attractive market for real estate investment. The steady appreciation in house prices indicates that investments in residential property could yield favorable returns over time. Moreover, with the population expanding at a robust pace, there is potential for increased rental demand, which could benefit investors looking to enter the landlord market or develop multi-family units.
Additionally, the more modest price appreciation in apartments suggests an opportunity for entry-level investors or those looking to diversify their portfolios with lower-cost properties that still offer growth potential.
Future Market Outlook
The future market outlook for Coleman’s real estate appears promising. The consistent growth in housing prices reflects a market that has underlying strength and potential for continued appreciation. As long as the population continues to grow at a healthy rate, demand for housing is likely to remain high, supporting both property values and investment returns.
However, investors should remain cognizant of broader economic conditions and local developments that could affect the market dynamics. Factors such as employment rates, interest rates, and regional economic policies could influence future market performance.
In conclusion, while past performance is not always indicative of future results, Coleman’s real estate market currently shows positive indicators for both short-term stability and long-term growth potential.
