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. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing healthy appreciation rates that are attractive to both homeowners and investors. The median apartment price stands at $300,000, with a slightly lower appreciation rate of 2.1% over the past year. This indicates a more moderate but stable growth in this segment of the market.
The population of Egremont has grown by 7.1% recently, suggesting an increasing demand for housing due to the influx of new residents seeking employment and lifestyle opportunities in the area. This demographic shift is likely contributing to the solidifying property values and could be indicative of sustained demand.
Investment Opportunities and Potential
Investment opportunities in Egremont are promising, especially considering the consistent rise in property values. The steady market growth provides investors with the potential for capital gains over time. Residential properties, particularly houses which are appreciating at a faster rate than apartments, present an appealing investment case for those looking to build equity or expand their real estate portfolio.
Additionally, new developments and infrastructure improvements could further enhance property values. Investors should also consider rental properties as an avenue for generating ongoing income, supported by the growing population fueling rental demand.
Future Market Outlook
The future market outlook for Egremont is optimistic based on current trends and data. Assuming that the economic factors driving population growth continue to hold strong, we can anticipate ongoing demand for housing in both purchase and rental markets. While no market is without its risks, factors such as a consistent increase in property values and a robust population growth rate bode well for the sustainability of Egremont’s real estate market health.
Looking ahead, potential investors and homeowners should monitor local economic development initiatives as they have the power to significantly influence market dynamics. Caution should be exercised with respect to global economic trends that could affect local employment rates and housing affordability; however, current indicators point towards a positive trajectory for Egremont’s real estate market.
