Mayerthorpe, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.5% |
| Quarterly trend | 1.8% |
| Stock on market | 1.1% |
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 | $320,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,000 |
| Population Change | 5.0% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
Mayerthorpe’s real estate market has demonstrated consistent growth in recent times. The median house price sits at $485,000, which marks a 2.8% year-over-year increase. This trend suggests a steadily appreciating housing market that is attracting homeowners and investors alike. In contrast, the median apartment price is notably lower at $295,000, with a more modest growth rate of 1.8% year-over-year. This difference in growth rates between houses and apartments may indicate a stronger demand for single-family homes.
Investment Opportunities and Potential
Investors considering Mayerthorpe can find potential in both the housing and apartment sectors. The steady rise in median prices reflects a healthy demand that could lead to long-term capital gains. With the population of Mayerthorpe growing by 5%, there is an increasing need for housing which can further drive the market upward.
For those looking into rental properties, the disparity in price trends between houses and apartments suggests that single-family homes may offer better appreciation potential, while apartments might provide more affordable entry points into the market and appeal to different tenant demographics.
Future Market Outlook
The future of Mayerthorpe’s real estate market appears promising given its current trajectory and demographic trends. A population increase of 5% indicates an expanding local economy which may lead to more robust job markets and greater housing demand. If these conditions persist, investors could see continuous appreciation in property values.
However, it is essential to monitor external economic factors such as interest rates, employment rates, and regional economic developments, as they can significantly impact local real estate markets. Keeping abreast of such changes will be crucial for making informed investment decisions in Mayerthorpe’s dynamic real estate landscape.
