Esther, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.9% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $335,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Esther, Alberta is currently experiencing steady growth. With a median house price of $485,000, the market has seen a year-over-year increase of 2.9%. This indicates a stable upward trend for property values in the region. Similarly, the median apartment price is currently at $295,000, which marks a 2.5% year-over-year growth. These consistent growth rates reflect a healthy demand for housing in the area.
Esther’s population of 15,200 is on an upward trajectory with a growth rate of 2.7%, suggesting an expanding community that could further stimulate housing demand. The increasing population may be attributed to local economic opportunities and the town’s appeal to new residents looking for residential stability in Alberta.
Investment Opportunities and Potential
For potential investors, Esther’s real estate market offers promising opportunities. The steady increase in property values coupled with the growing population provides a favorable environment for both short-term gains through property flipping and long-term wealth accumulation through rental properties.
The moderate price point of apartments presents an accessible entry into the market for investors seeking lower initial investments with potential for rental income generation. Investors might also consider capitalizing on the demand for single-family homes by targeting properties near key community amenities such as schools, parks, and shopping centers to maximize rental attractiveness or resale value.
Future Market Outlook
The future outlook for Esther’s real estate market remains positive. Assuming current economic conditions persist, we can anticipate continued growth in property values driven by population expansion and increased housing demand. The sustained price trends suggest that Esther will maintain its appeal as an attractive location for both living and investing.
However, it is essential to monitor external factors such as interest rates, employment rates, and regional economic developments, as these can influence buyers’ affordability and impact overall market dynamics. Nonetheless, based on present indicators, Esther’s real estate market is poised to remain robust with ongoing investment potential.
