Fairview, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
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 | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| 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 Fairview, Alberta is currently experiencing a period of steady growth. With a median house price sitting at $485,000 and showing a 3.2% year-over-year increase, residential properties are appreciating at a moderate rate. Similarly, the median apartment price has reached $295,000, with a somewhat more subdued growth trend of 2% year-over-year. These statistics indicate a healthy market that is growing at a sustainable pace. Fairview’s population has seen significant growth, increasing by 3.4%, which suggests an influx of residents that could be contributing to the demand for housing and supporting the appreciation in property values.
Investment Opportunities and Potential
The investment landscape in Fairview presents promising opportunities, particularly for those looking to enter the housing market or expand their portfolio. The consistent growth in property values, paired with the town’s increasing population, creates potential for both rental and resale markets. Residential properties offer investors a chance to capitalize on the upward trend in house prices. Meanwhile, apartments represent an attractive entry point or diversification option with their lower median price yet positive appreciation trend. The ongoing population growth implies a rising demand for housing, which could lead to higher rental occupancy rates and potentially increased rental yields for investors.
Future Market Outlook
The future of Fairview’s real estate market appears optimistic based on current trends and demographic data. Assuming that the population continues to grow at the observed rate of 3.4%, demand for housing is likely to remain robust, supporting ongoing property value appreciation. The steady increase in median house and apartment prices suggests that Fairview will maintain its trajectory of gradual and stable growth. This makes it an appealing market for long-term investment strategies. Potential investors should monitor local economic developments and infrastructure investments as these factors can further influence the market outlook positively.
