Innisfail, 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
1. Current Market Conditions and Trends
In Innisfail, Alberta, the real estate market is currently experiencing stable growth. The median house price stands at $500,000, marking a year-over-year increase of 3.5%. This suggests a healthy demand for single-family homes amidst a competitive housing market environment.
Similarly, the apartment sector is also showing positive momentum with the median apartment price at $300,000, which has risen by 2.1% over the past year. This growth rate, while slightly lower than that of houses, indicates sustained interest in multi-family dwellings.
The local population of approximately 15,000 residents is on an upward trajectory with a significant growth rate of 7.1%. Such demographic expansion is likely contributing to the increased housing demand and can be considered a driving force behind the current market conditions.
2. Investment Opportunities and Potential
The robust population growth paired with steady price appreciation presents notable investment opportunities in Innisfail’s real estate market. Investors considering entry into this market could potentially benefit from both capital gains and rental income, as demand for housing continues to be fueled by the expanding community.
The consistent rise in property values across both housing and apartment sectors suggests that real estate investments have the potential for solid returns. Moreover, given the current trends, properties within Innisfail may attract long-term investors looking for markets with stable growth prospects rather than speculative short-term gains.
3. Future Market Outlook
The future outlook for Innisfail’s real estate market appears optimistic. As population numbers grow and the local economy diversifies, demand for residential properties is expected to remain strong. Continued investment in infrastructure and community amenities can further enhance the attractiveness of Innisfail as a place to live and invest.
If current trends persist, moderate but steady price growth can be anticipated across different property types. For prospective buyers and investors, such conditions suggest that now may be an opportune time to consider entering the market before prices escalate further.
In conclusion, Innisfail’s real estate market shows signs of vitality and resilience with potential for ongoing growth supported by demographic trends and economic stability. Stakeholders should closely monitor key economic indicators and stay informed about local development plans that could impact future property values.
