Embarras, 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 in Embarras, Alberta
The real estate market in Embarras, Alberta currently exhibits stable growth, as indicated by moderate year-over-year price increases across property types. The median house price stands at $500,000, reflecting a healthy 3.5% increase from the previous year. This suggests a balanced market where demand is consistent with supply, leading to sustainable price appreciation.
Apartments in Embarras are also experiencing growth, albeit at a slightly slower pace. With the median apartment price at $300,000 and witnessing a 2.1% rise year-over-year, it indicates an expanding market but with less volatility compared to houses. This could be attributed to investor activity and the appeal of more affordable housing options within the region.
The population of Embarras has shown significant growth at 7.1%, which may contribute to increased housing demand. Such demographic trends are significant drivers of real estate markets and this uptick suggests potential for continued growth in housing needs.
Investment Opportunities and Potential in Embarras
Considering the steady increase in property values and robust population growth, Embarras presents various investment opportunities. The consistent rise in median house prices points towards a market that is ripe for long-term investment strategies. Investors could anticipate further capital gains as the regional economy and population continue to expand.
Apartments offer an alternative entry point for investors seeking more affordable options with potential for rental income. The slower growth rate in apartment prices might also allow for more room for negotiation and value purchases, particularly for investors aiming to cater to segments of the population looking for lower-cost living arrangements.
Given the population growth, there could be an emerging need for diverse housing solutions including townhouses, duplexes, and family-oriented communities. Investment in such developments could meet future demands while providing attractive returns as the local real estate market matures.
Future Market Outlook for Embarras
The future outlook for Embarras’s real estate market appears optimistic given current trends and underlying fundamentals. With a strong population increase that outpaces many other regions, demand for housing is likely to continue on an upward trajectory which bodes well for both home values and rental rates.
As infrastructure expands and the local economy develops alongside population growth, one can expect further interest from both homebuyers and investors which will support continued property value appreciation. However, it will be important to monitor economic indicators such as employment rates and new construction levels to ensure that supply aligns with demand over time.
Overall, assuming no major economic disruptions occur, Embarras’s real estate market should maintain its steady course of growth making it a solid consideration for those looking to invest in Alberta’s residential property sector.
