Mercoal, 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 Mercoal, Alberta is currently experiencing a period of moderate growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%, indicating steady demand for housing in the area. Meanwhile, the median apartment price stands at $300,000, which reflects a slightly lower year-over-year growth rate of 2.1%. This difference in growth rates may suggest that houses are currently in higher demand than apartments.
The population of Mercoal has been growing at a robust rate of 7.1%, which is likely contributing to the sustained demand for residential properties. The influx of residents could be due to various factors such as employment opportunities, lifestyle preferences, or demographic trends such as urbanization.
Investment Opportunities and Potential
With the current growth trends, Mercoal presents several investment opportunities, particularly in the housing sector. The consistent rise in house prices points towards a stable investment environment with potential for capital gains over time. Investors looking to capitalize on rental income may find apartments to be an attractive option due to their lower entry price point and the ongoing population growth that could increase rental demand.
Additionally, new development projects could arise as a result of the population boom, giving investors a chance to participate in ground-up developments or renovations that cater to the evolving needs of the community.
Future Market Outlook
The future market outlook for Mercoal remains optimistic. If current trends continue, with both population and housing prices rising steadily, it is reasonable to expect that the market will maintain its upward trajectory. However, potential investors should be cognizant of economic factors such as employment rates, interest rates, and local industry performance which can influence property values and rental markets.
Given the strong population growth rate, it is likely that demand for both houses and apartments will persist. This bodes well for long-term property value appreciation as well as rental market stability. While no market is without risks, careful analysis and prudent investment decisions could see Mercoal’s real estate market prosper in the coming years.
