Mearns, 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 Mearns, Alberta is currently experiencing steady growth. With a median house price of $500,000 and an annual appreciation rate of 3.5%, the housing market shows signs of robust health and consistent demand. Similarly, the median apartment price stands at $300,000, with a year-over-year increase of 2.1%. These trends indicate a moderate but stable upward trajectory in property values.
The population growth rate of 7.1% is significantly contributing to the demand for housing in the area. This influx of new residents is likely fueling the real estate market and may lead to increased competition for properties, potentially driving prices up over time if the supply does not keep pace with demand.
Investment Opportunities and Potential
Given the steady appreciation in property values, Mearns presents appealing investment opportunities. The consistent growth in house and apartment prices suggests that investing in residential real estate could yield positive returns over the medium to long term.
For investors looking at rental properties, the burgeoning population indicates a growing rental market which could translate into higher occupancy rates and rental yields. Additionally, as a community with a growing population, there may be opportunities for development projects that cater to incoming residents or existing ones looking for upgrades.
Future Market Outlook
The future real estate market outlook for Mearns appears optimistic. With an ongoing population increase of 7.1%, demand for housing is expected to remain strong. If this trend continues, we can anticipate further growth in property values, although it’s important to consider potential market fluctuations due to economic factors or changes in local policies.
Investors and potential homeowners should monitor key factors such as employment rates, infrastructure developments, and interest rates as they can affect the overall market conditions. However, based on current data and trends, Mearns offers a promising landscape for both residential living and real estate investment.
