Egremont, 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 (2025) | 15,000 |
| Previous Population (2020) | 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 Egremont, Alberta is experiencing steady growth as indicated by current data. The median house price in the area stands at $500,000, with a year-over-year increase of 3.5%. This suggests a healthy demand for single-family homes and a growing market that is likely benefiting from both local economic factors and broader provincial trends.
Apartments in Egremont are also showing an upward trend, although at a slightly slower pace. The median apartment price is currently $300,000, with an annual increase of 2.1%. This difference in growth rates between houses and apartments may reflect a market preference for more spacious living accommodations or a response to demographic shifts such as family formation.
With a population of 15,000 that has grown by 7.1%, Egremont is evidently becoming more attractive to new residents. This influx could be fueling the housing demand and contributing to the price increases seen across the board.
Investment Opportunities and Potential
Given the population growth and positive price trends, investors should consider Egremont’s real estate market as having significant potential. The consistent rise in house prices suggests that purchasing residential property could yield solid returns over time. Single-family homes, in particular, represent an attractive investment due to their higher rate of appreciation.
The apartment sector also presents opportunities, especially for investors looking to enter the rental market or offer more affordable housing options. While the appreciation rate for apartments is lower than that for houses, the stable increase indicates a reliable investment that might appeal to those seeking less volatility.
Furthermore, Egremont’s robust population growth signals ongoing demand for housing which can sustain rental income streams and underpin long-term capital gains for investors.
Future Market Outlook
Moving forward, the outlook for Egremont’s real estate market appears optimistic. As long as the population continues to grow and the local economy supports job creation and stability, both housing demand and property values are likely to maintain an upward trajectory.
However, investors should remain mindful of external economic factors such as interest rate changes, regional policy shifts, or fluctuations in Alberta’s broader economic climate which could affect future market conditions.
In conclusion, Egremont presents itself as an appealing option for real estate investment with its current growth trends. Prudent investors will keep an eye on both local developments and wider economic indicators to make informed decisions about entering this vibrant market.
