Esther, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $490,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.9% |
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 | $490,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,100 |
| Previous Population (2020) | 14,600 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Esther, Alberta is currently characterized by moderate growth. With the median house price at $490,000 and a year-over-year increase of 3.2%, the market is showing steady appreciation. Similarly, apartments are following an upward trend with the median apartment price at $295,000, which has risen by 2.5% from the previous year.
This growth can be associated with the town’s rising population, now at 15,100, which has grown by 3.4%. The increasing population suggests a sustained demand for housing that may continue to push property values upward.
2. Investment Opportunities and Potential
The positive trends in Esther’s housing market reflect a healthy investment potential, especially for those looking to invest in residential properties. Given the consistent growth in house and apartment prices, investors could expect continued capital gains in the mid to long term.
The rise in population indicates a growing demand for rental properties as well. Investors may also explore opportunities in developing multi-family dwellings or purchasing existing properties to cater to this segment.
3. Future Market Outlook
The future outlook for Esther’s real estate market remains optimistic given current trends and demographic indicators. Assuming no significant economic disruptions, the steady population growth should maintain its course, thereby supporting both the rental and buyer markets.
If the local economy continues to thrive and attract new residents seeking employment or a higher quality of living, it is likely that both demand and property value will see an upward trajectory. This makes Esther an attractive destination for homebuyers and investors alike looking for stable market conditions with potential for growth.
