Erskine, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $495,000 |
Monthly growth | 1.1% |
Quarterly trend | 3.3% |
Stock on market | 0.9% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.0% |
Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $385,000 |
3 bedrooms | $495,000 |
4 bedrooms | $610,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $340,000 |
3 bedrooms | $420,000 |
Demographics
Current Population (2025) | 15,200 |
Previous Population (2020) | 14,000 |
Population Change | 5.7% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,700 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Erskine, Alberta is currently exhibiting steady growth. With a median house price sitting at $495,000 and experiencing a year-over-year increase of 3.3%, the market shows healthy appreciation rates that may attract homeowners and investors alike. The trend for apartments is also positive, albeit at a slightly slower pace, with the median apartment price reaching $295,000 and growing at a rate of 2% year-over-year. The town’s population has expanded by 5.7%, indicating a growing demand for housing as more individuals settle in the area.
Investment Opportunities and Potential
The increasing population, currently at 15,200 residents, suggests that there is ongoing and potentially growing demand for housing in Erskine. Investment opportunities seem promising, especially in single-family homes which are seeing stronger appreciation. Given the moderate price increase trends for both houses and apartments, investments in real estate here could yield stable returns over time. Investors should consider both immediate rental income potential as well as long-term capital gains due to the consistent upward movement in property values.
Future Market Outlook
The future market outlook for Erskine, Alberta remains optimistic. Population growth has been robust at 5.7%, which should continue to underpin demand for residential properties. If current economic conditions persist and the local job market remains strong or improves, we can expect the real estate market to maintain its upward trajectory. However, potential investors and homebuyers should stay informed on local economic developments as these will be crucial to sustaining the positive trends observed in Erskine’s housing market.