Ellerslie, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $515,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $515,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Ellerslie, Alberta
Ellerslie’s real estate market is currently experiencing a period of steady growth. The median house price in the area is $515,000, reflecting a 4.2% increase year-over-year. This suggests a healthy demand for single-family homes and an upward pressure on prices likely driven by the area’s attractiveness to buyers.
In contrast, the apartment market is showing more moderate growth. With a median price of $310,000 and a year-over-year increase of 2.5%, it appears that the demand for apartments is growing at a slower rate compared to houses. This may be indicative of market segmentation where different types of properties are appealing to distinct buyer groups.
The population of Ellerslie stands at 15,500 with a solid growth rate of 3.3%. This demographic trend is contributing to the overall demand for housing in the region and supports the observed price increases.
Investment Opportunities and Potential in Ellerslie
The positive trends in Ellerslie’s real estate market present several attractive investment opportunities. The continuous rise in median house prices suggests that investing in residential property could yield profitable returns over time. Single-family homes, in particular, have shown robust appreciation and could be a focus for investors looking for long-term capital gains.
Given the more modest growth in the apartment sector, there may be opportunities for investors to enter this market segment at a lower point of entry while still participating in the gradual appreciation of asset values. Additionally, rental demand is likely to increase as the population grows, which could make multi-unit residential buildings or apartment complexes particularly appealing from an income-generating perspective.
Future Market Outlook for Ellerslie
Looking forward, Ellerslie’s real estate market appears poised for continued growth. The steady population increase suggests sustained demand for housing which should support further price rises unless there is a significant change in economic conditions or housing supply dynamics.
The consistent upward trend in property values indicates a stable market with good potential for both short-term investments and long-term holdings. Investors and homeowners alike can reasonably expect that properties acquired today will appreciate over time, assuming that current local economic conditions persist.
In conclusion, careful monitoring of interest rates, employment figures, and any new housing developments will be essential to accurately predict future trends; however, the data points toward a healthy and expanding real estate market in Ellerslie.
