Milo, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.8% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,800 |
| Population Change | 1.4% |
| 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 in Milo, Alberta
The real estate market in Milo, Alberta has been exhibiting stable growth over the past year. The median house price currently stands at $495,000, reflecting a year-over-year increase of 4%. This steady appreciation indicates a healthy demand for housing in the area. Similarly, the median apartment price has reached $295,000, with a more modest year-over-year growth of 1.8%. This discrepancy in growth rates between houses and apartments may suggest that single-family homes are in higher demand within the region.
The population of Milo has reached approximately 15,000 residents, with a growth rate of 1.35%. This consistent population increase is likely contributing to the sustained demand for residential properties. The current trends suggest a balanced real estate market that is poised to support both buyers and sellers effectively.
Investment Opportunities and Potential
Milo’s real estate market offers diverse investment opportunities, particularly in the single-family housing sector. Given the stronger growth rate observed for houses compared to apartments, investors might find greater potential for capital gains in this segment of the market. The ongoing population growth further bolsters the case for investing in residential properties as it could lead to increased rental demand.
For those considering investment in multi-family units or apartments, the slower appreciation rate should be factored into return on investment calculations. However, apartments could still be an attractive option for long-term rental income strategies, especially if targeted towards newcomers or smaller households.
Future Market Outlook
Looking ahead, Milo’s real estate market appears positioned for continued growth. Assuming that current economic conditions persist and population trends maintain their upward trajectory, both the housing and apartment sectors are expected to experience sustained demand.
The 4% annual increase in house prices aligns with historical national averages, suggesting that there may not be any immediate factors leading to significant market overheating or correction. As such, the future outlook for Milo’s real estate market is cautiously optimistic. Investors and homebuyers alike can expect a degree of stability and potential for steady gains over time.
In summary, while careful analysis of individual investments is always advised, the overall health of Milo’s real estate market seems robust. Both current conditions and future projections indicate a welcoming environment for investment and residential pursuits alike.
