Mallaig, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $325,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.7% |
| 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 Mallaig, Alberta
The real estate market in Mallaig, Alberta, is experiencing a period of steady growth. Currently, the median house price stands at $485,000, which represents a robust year-over-year increase of 4.2%. This growth indicates a healthy demand for houses in the region. Similarly, apartments are also seeing an appreciation in value, with the median apartment price at $295,000 and a more modest year-over-year trend of 2.5%. These trends are being underpinned by a growing population, which has risen to 15,200 with a solid growth rate of 2.7%. The concurrent increase in property values alongside population growth suggests that Mallaig’s real estate market is in a balanced state with sustainable demand.
Investment Opportunities and Potential in Mallaig
Investors considering the Mallaig real estate market have good reason to be optimistic. The consistent rise in housing prices reflects a market that has not yet reached saturation and where investment properties may continue to appreciate. Given the steady population increase, rental properties could be particularly attractive as housing demand is likely to remain strong. With houses appreciating at a faster rate than apartments, investment in single-family homes could offer higher capital gains potential. However, apartments may appeal to investors looking for more affordable entry points into the market or seeking to capitalize on rental incomes from a growing workforce in the area.
Future Market Outlook for Mallaig
The future outlook for Mallaig’s real estate market appears promising. The underlying fundamentals—such as population growth—are expected to continue driving demand for housing. If current trends persist, both house and apartment prices are likely to maintain their upward trajectory, albeit potentially at different rates. Investors should monitor local economic developments and infrastructure investments that could further impact the desirability of the area and consequently affect property values. Additionally, it will be important to consider regional and national economic indicators that can influence mortgage rates and buyer sentiment as these factors can also play significant roles in shaping the future market landscape.
