Legal, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $510,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.8% |
| Stock on market | 0.9% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 2.4% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $510,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Legal, Alberta
The real estate market in Legal, Alberta is currently experiencing a steady increase in property values. With a median house price of $510,000 and an annual growth rate of 3.8%, the housing market reflects a stable and positive trend. Similarly, the apartment sector has shown resilience, with a median price of $315,000 and a growth trend of 2.4% year-over-year. This suggests that the market is becoming increasingly attractive to both homeowners and investors alike.
The population of Legal stands at 15,500 residents, with a robust population growth rate of 3.3%. This population increase is a key driver for demand in the housing market and implies sustained interest in both rental and owner-occupied properties.
Investment Opportunities and Potential in Legal, Alberta
Investors looking to capitalize on the real estate market in Legal have several opportunities to consider. The steady climb in property values indicates that purchasing residential properties can lead to potential capital gains over time. The rising median house price points towards a healthy demand for single-family homes, which could be advantageous for long-term investment strategies.
The apartment sector also presents substantial investment potential. With a moderate price trend increase of 2.4%, apartments are becoming an appealing option for individuals seeking more affordable housing solutions or looking to rent. Investors can benefit from this by focusing on the development or acquisition of multi-unit residential buildings aimed at catering to this segment of the market.
Future Market Outlook for Legal, Alberta
Looking forward, the real estate market in Legal is poised for continued growth. The consistent rise in population suggests that demand for housing will remain strong, supporting further property value increases. As long as economic conditions remain favorable and the local job market stays robust, we can anticipate ongoing interest from buyers and renters alike.
The influx of new residents will likely put additional pressure on the housing supply, potentially leading to greater opportunities for new development projects and refurbishment of existing properties. In conclusion, if current trends persist, Legal’s real estate market should maintain its upward trajectory, positioning the town as an attractive destination for both living and investing.
