Dover, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
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) | 15,000 |
| Population Change | 1.3% |
| 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 Dover, Alberta is currently experiencing steady growth. With a median house price of $485,000 and a year-over-year increase of 4.2%, the market is demonstrating resilience and a positive trajectory. Similarly, the median apartment price is at $295,000, which marks a more modest but still positive growth trend of 2.5% over the past year.
This growth can be partly attributed to Dover’s population increase of 1.33%, suggesting that the demand for housing is being driven by an expanding community. The consistent rise in property values reflects a stable market that remains attractive to both owner-occupiers and investors.
2. Investment Opportunities and Potential
The investment potential in Dover’s real estate market lies primarily in the sustained appreciation of property values. A median house price increase of 4.2% indicates healthy capital gains for investors focusing on residential properties. Additionally, apartments offer a lower entry point into the market at $295,000 with a 2.5% appreciation rate, catering to investors looking for more affordable opportunities with reliable growth.
Investors should also consider the broader implications of population growth as it may signal increased rental demand in the future. This could translate into higher rental yields for income-seeking real estate investors, particularly if this trend continues or accelerates.
3. Future Market Outlook
The future outlook for Dover’s real estate market appears promising based on current trends and data. Population growth remains a key indicator of potential demand for housing, and as long as it maintains its current pace or increases, the real estate market is likely to benefit from heightened demand.
Given the steady appreciation rates for both houses and apartments, the market is expected to remain robust in the near term. Investors and homebuyers can likely anticipate continued growth both in terms of property value and rental prospects, assuming no significant economic disruptions occur.
However, prospective buyers and investors should remain vigilant about local and national economic conditions that could impact interest rates, employment levels, and overall affordability – all of which could influence future market performance in Dover.
