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
Current Market Conditions and Trends in Innisfail, Alberta
In Innisfail, Alberta, the real estate market has exhibited a steady growth pattern. The median house price in the area stands at $500,000, reflecting a year-over-year increase of 3.5%. This increment indicates a healthy demand for detached homes, likely driven by buyers seeking more space and a suburban lifestyle.
The apartment sector shows a slightly more modest growth trend with the median apartment price reaching $300,000 and observing a 2.1% year-over-year increase. This suggests that while the market for apartments is growing, it is doing so at a pace that may be more accessible to first-time homebuyers and investors.
With a population of 15,000 that has grown by 7.1%, Innisfail is experiencing demographic shifts that may be contributing to the housing demand. The significant population growth could be attributed to the town’s affordability compared to larger urban centers, as well as its appealing small-town charm and proximity to essential services and employment opportunities.
Investment Opportunities and Potential
The consistent rise in housing prices in Innisfail presents potential opportunities for real estate investors. The growth trajectory seen in both houses and apartments suggests that investments made in residential properties are likely to experience capital appreciation over time.
For investors looking at rental markets, the population increase implies an expanding pool of potential tenants. Consequently, this could lead to favorable rental yields as housing demand persists or even intensifies with further population increments.
Given the current trends, investors might particularly consider targeting single-family homes due to their higher percentage increase in value. However, apartments should not be overlooked; they offer a more affordable entry point into the market and cater to different demographic groups such as young professionals or smaller families who may prefer multi-family living arrangements.
Future Market Outlook
The future outlook for Innisfail’s real estate market appears optimistic. If the town continues to experience population growth at its current rate, it can be expected that demand for housing will remain robust. This is particularly encouraging given global economic uncertainties; markets with strong local fundamentals such as population growth tend to be more resilient.
The sustained price increases for both houses and apartments indicate a balanced market where supply meets demand without leading to overheating or speculation. As long as economic conditions remain stable locally and nationally, Innisfail’s real estate market is poised for continued steady growth.
Investors and potential homeowners should monitor factors such as interest rates, employment levels in the region, and national economic indicators which can influence buyer sentiment and affordability – all critical components affecting real estate markets.
To sum up, Innisfail presents itself as an attractive market with potential for both short-term gains through property flipping or long-term investment via rental income and capital appreciation. Stakeholders are advised to maintain an awareness of broader economic trends while taking advantage of the local market characteristics outlined above.
