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 |
| 5 bedrooms | $700,000 |
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 experiencing a period of steady growth. With the median house price currently standing at $500,000, we’ve observed a year-over-year increase of 3.5%. This suggests a healthy demand for single-family homes and indicates that the market is accommodating slight price inflation without deterring potential buyers.
Similarly, apartments are seeing a more modest but consistent appreciation in value, with the median apartment price at $300,000 and an annual growth rate of 2.1%. These trends reflect ongoing interest in more affordable housing options and could indicate a balanced market that caters to various income levels.
The population of Mearns has seen significant growth, with an increase of 7.1%, pushing the population to around 15,000 residents. This surge suggests an inflow of new residents, potentially due to employment opportunities or lifestyle preferences, which could further drive housing demand.
Investment Opportunities and Potential
Given the steady growth in both housing prices and population, Mearns offers promising investment opportunities. The consistent increase in house prices points towards a stable investment environment for single-family homes. Investors could expect continued appreciation in property values, especially if local economic conditions remain favorable.
The apartment sector also presents potential for investors seeking long-term rental income. With the modest rise in apartment prices and significant population growth, rental demand is likely to increase. This provides an opportunity for investors to capitalize on the rental market while benefiting from gradual asset appreciation.
An analysis of demographic trends and consumer behavior could reveal specific niches within the market that offer higher returns or are currently underserved—such as luxury properties or affordable starter homes—opening additional avenues for investors.
Future Market Outlook
The future outlook for Mearns’ real estate market remains optimistic. Population growth is a strong indicator of continued demand for housing. If current trends persist and the local economy supports job creation and retention, the real estate market should maintain its upward trajectory.
However, it’s essential to monitor external factors such as interest rates, government housing policies, and broader economic conditions that can influence buyer sentiment and affordability. A comprehensive understanding of these factors will be critical for accurately forecasting future market behavior.
In summary, Mearns appears poised for ongoing real estate growth. Investors and homebuyers with a long-term perspective may find this market particularly attractive given its current trajectory and potential for sustainable development.
