Falher, 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 (2024) | 15,000 |
| Previous Population (2019) | 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
The real estate market in Falher, Alberta is currently experiencing modest growth. With a median house price sitting at $500,000, the market has seen a consistent year-over-year increase of 3.5%. This steady appreciation indicates a healthy demand for housing in the area. The median apartment price is currently $300,000, with a slightly lower year-over-year growth of 2.1%. The slower growth rate for apartments may reflect a higher demand for single-family homes or a saturation in the apartment market.
The population of Falher stands at 15,000 residents, with an impressive growth rate of 7.1%. This rapid population increase is likely driving the demand for housing and contributing to the sustained rise in property values.
Investment Opportunities and Potential
Falher’s real estate market presents attractive opportunities for investors. The town’s robust population growth suggests a continuing need for residential properties, which could be leveraged by developers and investors. Single-family homes appear to be particularly in demand, reflected by their stronger price growth compared to apartments. However, as the population increases, there may also be untapped potential in the multi-family dwelling sector to meet diverse housing needs.
In addition to residential real estate, commercial properties could also offer investment potential due to the expanding population necessitating more services and amenities. Investors should conduct thorough market research to identify specific areas within Falher that have the highest demand and supply imbalance for targeted investments.
Future Market Outlook
The future outlook for Falher’s real estate market appears positive. The current trends of consistent property value increases and significant population growth are likely to continue supporting the market’s expansion. Assuming no major economic disruptions, investors can reasonably expect continued appreciation in property values over the medium term.
In planning for future development and investment, stakeholders should monitor key economic indicators such as employment rates, income levels, and regional economic developments that could influence housing demand. Additionally, keeping an eye on government policies regarding housing and urban development will be crucial to anticipate changes that could affect the real estate landscape in Falher.
Overall, with careful analysis and strategic investment decisions, there are promising opportunities for both short-term gains and long-term asset growth in Falher’s real estate market.
