Ellerslie, 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 current real estate market in Ellerslie, Alberta, is characterized by steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is experiencing healthy appreciation. This trend suggests a stable demand for single-family homes in the area. In contrast, apartments are slightly more affordable with a median price of $300,000 and exhibit a slower growth rate of 2.1% year-over-year.
The population of Ellerslie has reached 15,000 residents and continues to grow at a robust rate of 7.1%. This demographic expansion is an indicator of the area’s overall attractiveness and vitality, which may be contributing to the sustained demand for housing across both segments.
Investment Opportunities and Potential
For investors looking to enter the Ellerslie real estate market, there are opportunities to capitalize on the steady appreciation in property values. The consistent growth in median house prices indicates that investments in residential properties have the potential for solid returns over time.
Apartments in Ellerslie present an accessible entry point for investors due to their lower median price compared to houses. Given the slower appreciation rate for apartments, investors may anticipate more modest gains; however, this could be offset by potential rental income benefits due to the growing population seeking housing.
The continued population growth further reinforces the potential for real estate investment in Ellerslie. A rising population typically leads to increased demand for housing, which could spur further development and investment opportunities within the community.
Future Market Outlook
The future outlook of Ellerslie’s real estate market appears promising based on current trends and data. The ongoing population increase is likely to maintain strong demand for housing, underpinning both property value appreciation and rental market opportunities.
As long as economic conditions remain favorable and the area continues to attract new residents due to its amenities and lifestyle offerings, we can expect a positive trajectory for property values in both houses and apartments. Investors should monitor economic indicators such as employment rates and infrastructure developments closely, as these will also play crucial roles in shaping future market conditions.
In conclusion, Ellerslie presents a dynamic real estate market with strong fundamentals supporting continuous growth. Prudent investors would do well to consider this market for its stability and potential long-term rewards.
