Evergreen, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| 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 | $570,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Evergreen, Alberta is currently experiencing stable growth, as indicated by the year-over-year increase in median house prices by 2.9%, settling at $485,000. Apartments have also seen a similar trend with a 2.5% increase, bringing the median price to $295,000. This consistent, moderate appreciation in property values points to a healthy market environment.
The population of Evergreen has grown by 3.3% to reach 15,500 residents, which may be contributing to the demand for housing in the area. With both the housing and apartment sectors demonstrating upward trends, the market conditions are favorable for sellers who are likely to benefit from competitive pricing and potentially shorter listing durations.
Investment Opportunities and Potential
Evergreen presents several attractive opportunities for real estate investors. The steady growth in property values suggests that purchasing residential real estate could be a sound investment strategy with potential for capital gains over time. The increasing population also indicates an ongoing or future demand for rental properties. Investors looking into the rental market could expect a stable income stream with potential for yield growth as the local economy and population continue to expand.
Apartments, with their lower median price point of $295,000 compared to houses, represent an accessible entry point into the real estate market for both first-time homebuyers and investors. This sector’s growth trend aligns closely with the overall market, suggesting that investments in apartments may carry similar appreciation prospects as houses.
Future Market Outlook
The future outlook of Evergreen’s real estate market appears positive. Given the current trends of gradual price increases and steady population growth, it is reasonable to anticipate continued demand for housing. This bodes well for those looking to hold onto properties long-term as they are likely to benefit from incremental value appreciation.
The economic stability and attractiveness of Evergreen as a place to live and work could further bolster confidence among buyers and investors alike. Assuming that these demographic and economic conditions persist or improve, Evergreen’s real estate market should maintain its current trajectory of controlled yet promising growth.
