Mallaig, 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
The real estate market in Mallaig, Alberta is currently experiencing a period of steady growth. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. Additionally, the median apartment price is $300,000 with a growth trend of 2.1% over the same period. These statistics indicate a healthy and stable market that is attractive to both homeowners and investors.
The population growth rate of 7.1% in the area is significant and suggests that demand for housing may continue to rise. This growth is likely contributing to the steady appreciation in property values seen across Mallaig’s real estate market.
Investment Opportunities and Potential
Mallaig’s robust population growth paired with consistent price appreciation presents attractive investment opportunities. Investors looking to capitalize on potential rental income or long-term capital gains should consider the current trends favorable. With house prices still relatively affordable compared to larger urban centers, there is considerable room for upward movement in the market.
Furthermore, as apartment prices are growing at a slower pace than houses, this may be an opportune moment for investors to enter the market before potential accelerations in value occur. The sustained demand driven by population increases can lead to tightening supply, which could push apartment prices up at a faster rate in the future.
Future Market Outlook
The future outlook for Mallaig’s real estate market appears promising based on current trends and demographic data. As long as population growth continues at its current pace or even accelerates, it can be anticipated that demand for housing will remain strong. This ongoing demand has the potential to maintain or increase the current rates of property value appreciation.
As economic conditions evolve and infrastructural developments take place within Mallaig and surrounding areas, we can expect fluctuations in market dynamics. However, given the present data points and trends, there are no immediate indications of a significant downturn in the foreseeable future.
In conclusion, those considering investing in Mallaig’s real estate should monitor local economic indicators closely while being cognizant of national policy changes that could impact mortgage rates and borrowing costs. A carefully researched entry into this market could yield substantial rewards for discerning investors attuned to both local and broader economic signals.
