Mercoal, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,300 |
| Previous Population (2020) | 15,000 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Mercoal, Alberta
The real estate market in Mercoal, Alberta, is currently experiencing steady growth. The median house price stands at $485,000, which represents a 3.2% increase year-over-year. This indicates a healthy demand for housing in the area and suggests that the market has been resilient in the face of economic fluctuations. Similarly, apartments are also seeing an upward trend with the median apartment price at $295,000, showing a 2% rise year-over-year.
The population of Mercoal has grown to 15,300 with a growth rate of 2%, suggesting a continuing influx of residents which may be due to factors such as employment opportunities, lifestyle preferences or other socio-economic drivers. This increasing population is likely contributing to the sustained demand for housing and helps explain the current pricing trends.
Investment Opportunities and Potential in Mercoal
Considering the steady growth in property values and population, Mercoal offers promising investment opportunities. The consistent appreciation in house prices indicates a stable market where investors could expect continued capital gains over time. The 3.2% increase in median house prices suggests that single-family homes represent a solid investment with potential for both rental income and long-term value appreciation.
Apartments are also proving to be an attractive investment with a 2% year-over-year price increase. Given their more affordable median price point of $295,000 compared to houses, apartments may offer an accessible entry into the real estate market for new investors or those looking to diversify their portfolio.
Future Market Outlook for Mercoal’s Real Estate
The future market outlook for Mercoal appears optimistic based on current trends and data. Assuming continued population growth and economic stability within the region, it is reasonable to project that the demand for housing will persist, potentially leading to further increases in property values.
The increasing trend of both house and apartment prices points towards a potentially buoyant market going forward. However, investors should remain vigilant about broader economic conditions that can impact real estate markets, including interest rate changes, employment rates, and regional development projects.
In conclusion, Mercoal’s real estate market presents itself as an attractive option for investors seeking stable growth and long-term investment potential. With careful consideration of market conditions and due diligence, stakeholders can make informed decisions to capitalize on opportunities within this vibrant community.
