Milo, 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 Milo, Alberta is currently experiencing a moderate growth trajectory. The median house price stands at $500,000, with a positive year-over-year appreciation of 3.5%. This increase is indicative of a healthy demand for housing in the area, likely bolstered by the town’s increasing population, which has risen by 7.1% recently.
Apartments in Milo are also seeing appreciable growth in value with the median price at $300,000 and an annual growth rate of 2.1%. This slower rate compared to houses suggests that apartments are a more stable but less rapidly appreciating asset in this market.
In terms of inventory and sales velocity, specific data is not provided; however, the consistent price growth in both segments suggests a balanced market without any significant oversupply or shortages.
Investment Opportunities and Potential
Investment opportunities within Milo’s real estate market appear promising given the solid growth rates for both houses and apartments. The steady population increase indicates a sustained demand for housing, which should underpin property values going forward.
For investors considering residential rental properties, the population growth can be seen as an opportunity to cater to new residents requiring housing. With the trend towards urbanization and people moving closer to services and employment centers, investment in centrally located apartments could yield favorable returns through both rental income and capital appreciation.
The stronger growth rate observed in the housing market suggests that single-family homes could present a higher potential for capital gains over time. However, prospective investors should conduct thorough due diligence on local economic conditions and zoning regulations to ensure long-term viability.
Future Market Outlook
The future outlook for Milo’s real estate market remains positive. With an impressive population growth rate of 7.1%, the demand for housing is likely to continue rising. The consistent upward trend in property values across both houses and apartments indicates that the market has good momentum.
Economic factors such as employment rates, local industry performance, and infrastructure development will be key determinants of the future health of Milo’s property market. Assuming these factors remain supportive, investors can expect continued moderate growth in property values with potential spikes should any major economic developments occur.
In conclusion, Milo presents itself as an attractive option for real estate investors seeking markets with steady growth potential. As always, individual circumstances vary and professional financial advice is recommended when considering any investment decision.
