Evansburg, 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 (2025) | 15,000 |
| Previous Population (2020) | 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 Evansburg, Alberta, the real estate market is currently experiencing a period of steady growth. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This increment points to a healthy demand for single-family homes in the area. Similarly, the median apartment price has risen to $300,000, with a slightly lower year-over-year growth rate of 2.1%. This suggests that while apartments are also appreciating in value, the demand for them is not as robust as for houses.
The population of Evansburg has reached approximately 15,000 residents, with a significant population growth of 7.1%. This influx of new residents is likely contributing to the increasing demand in the housing market, as more people seek accommodation in the region.
Investment Opportunities and Potential
The current trends indicate that Evansburg represents a promising opportunity for real estate investors. The consistent rise in property values suggests that investments made in residential properties could yield favorable returns over time. The greater increase in house prices compared to apartment prices may point towards single-family homes being a more lucrative investment avenue at present.
Given the strong population growth and consequent housing demand, investors might also consider opportunities in developing new residential projects or refurbishing existing properties to cater to the needs of incoming residents. Rental properties could be particularly attractive as well, given that newcomers often seek temporary housing solutions before committing to homeownership.
Future Market Outlook
The outlook for the Evansburg real estate market remains positive. Assuming current trends continue, both house and apartment prices are expected to maintain a steady climb. The robust population growth serves as an indicator of sustained future demand which should underpin property values.
However, potential investors and homeowners should monitor key factors such as local economic conditions, employment rates, and interest rates that could impact affordability and borrowing costs. Any significant changes in these areas could alter market dynamics either positively or negatively.
In summary, Evansburg’s real estate market is on an upward trajectory with sound investment potential due to ongoing population growth and steady price appreciation. Vigilance regarding broader economic indicators will be essential for those looking to participate in this market effectively.
