Coronation, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.9% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.1% |
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) | 15,200 |
| Previous Population (2020) | 14,000 |
| Population Change | 5.0% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Coronation, Alberta is experiencing moderate growth, as indicated by the year-over-year increases in property values. The median house price currently stands at $485,000, reflecting a 2.9% increase from the previous year. This suggests a steady demand for detached homes in the area, with the trend indicating a healthy but not overheated market.
Similarly, apartments are also seeing a rise in valuation with the median apartment price at $295,000, which marks a 1.9% increase year-over-year. While this growth is slightly lower than that of houses, it still points towards an overall positive trajectory for residential real estate in Coronation.
The demographic aspect cannot be overlooked as the population of Coronation has witnessed a 5% growth. This population influx is likely contributing to the demand for housing and consequently the uptick in property prices.
2. Investment Opportunities and Potential
The steady increase in property values coupled with ongoing population growth presents a favorable environment for real estate investment in Coronation. Single-family homes show a slightly higher appreciation rate compared to apartments, potentially offering greater capital gains for investors over time. The current trends suggest continued demand, which could lead to further opportunities for rental income and property value appreciation.
For investors looking at the apartment sector, the lower entry price point of $295,000 and the steady growth rate indicates a more accessible market segment that still offers potential for appreciation and rental demand, particularly appealing to first-time investors or those with limited capital.
The consistent population growth supports both rental and resale markets as new residents may initially seek rental accommodations before purchasing properties, adding to the investment potential across multiple sectors of Coronation’s real estate market.
3. Future Market Outlook
The future outlook for Coronation’s real estate market remains optimistic based on current trends and data. The solid year-over-year growth rates for both houses and apartments indicate that property values are likely to continue their upward trajectory albeit at a sustainable pace.
Given that population growth has been positive at 5%, it is reasonable to expect ongoing demand for housing which should support both the resale and rental markets well into the future. Moreover, as long as economic conditions remain stable and interest rates do not experience significant hikes, affordability will remain within reach for potential buyers and investors alike.
In conclusion, while no market is without risk, Coronation’s real estate market shows signs of stability and potential for continued growth making it an attractive option for both homeowners and investors seeking opportunities in Alberta’s residential property arena.
