Mayerthorpe, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $550,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $425,000 |
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
The real estate market in Mayerthorpe, Alberta, is currently characterized by moderate growth. With a median house price of $485,000, the market has experienced a year-over-year increase of 2.8%. This growth trend reflects a stable local economy and consistent demand for housing in the area. Meanwhile, apartments are slightly more accessible, with a median price of $295,000 and a more modest year-over-year increase of 1.5%. The trends indicate healthy appreciation rates for residential properties in Mayerthorpe, suggesting that the market is not overheated but rather moving at a sustainable pace.
Investment Opportunities and Potential
Mayerthorpe’s real estate market presents various investment opportunities. The steady appreciation in house prices indicates that investments in residential properties could yield solid returns over time. Given the population growth rate of 3.3%, which outpaces many other regions, there is an increased demand for housing, potentially leading to tighter markets and higher rental yields for investors interested in becoming landlords or engaging in buy-and-hold strategies.
With apartments experiencing a slower growth rate compared to houses, entry-level investors or those looking for lower capital requirements might find apartments an attractive option. As the population grows and younger demographics possibly seek affordable housing options, investing in apartments could capitalize on this segment’s needs.
Future Market Outlook
Looking ahead, Mayerthorpe’s real estate market appears poised for continued steady growth. The key driver behind this positive outlook is the robust population increase of 3.3%, which is likely to sustain demand for housing across all sectors. If current economic conditions persist and Mayerthorpe continues to attract new residents at its current rate or higher, the real estate market is expected to remain buoyant.
However, investors should be mindful of broader economic factors such as interest rates, employment levels in key industries within Alberta, and government housing policies that can impact affordability and demand. Staying informed on these fronts will be crucial for both short-term and long-term investment planning.
