Minburn, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| 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 | $335,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,700 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Minburn, Alberta is currently experiencing moderate growth. The median house price stands at $485,000, reflecting a year-over-year increase of 2.8%. This steady rise in home values indicates a healthy demand for residential properties. Similarly, the median apartment price has risen to $295,000, with a slightly lower growth rate of 1.9% year-over-year.
The population of Minburn has been growing at a robust rate of 3.4%, which typically signals an increasing demand for housing and can contribute to upward pressure on property prices over time. The current trends suggest that the market is stable with a potential for continued growth, making it attractive for both homeowners and investors.
Investment Opportunities and Potential
Given the positive trend in property values and the significant population growth, Minburn presents several promising investment opportunities. The continuous uptick in house prices indicates a steady market that could offer long-term capital gains for investors who are interested in purchasing residential properties.
The apartment sector also shows potential for investment, particularly for those looking to cater to smaller households or individuals attracted by lower price points compared to single-family homes. With a median price of $295,000 and a growth trend of 1.9%, apartments may appeal to investors seeking more affordable entry points into the real estate market.
Favorable demographic shifts, such as population increase, can lead to sustained demand for rental properties. Investors might explore avenues such as buy-to-let investments or developments catering to this growing community.
Future Market Outlook
The future outlook for Minburn’s real estate market appears optimistic due to several factors. The consistent population growth suggests ongoing demand for housing, which could support continued appreciation in property values. Moreover, if current economic conditions remain stable and interest rates are favorable, both the housing and apartment markets may maintain their upward trajectories.
However, prospective investors and homeowners should be aware of broader economic variables that can impact the real estate market such as employment rates, local industry performance, and national economic policies. Keeping abreast of these factors is essential for making informed decisions about entering or exiting the Minburn real estate market.
In conclusion, while current trends point towards a positive outlook for Minburn’s real estate sector, careful consideration of market data and vigilance regarding external economic factors are crucial when assessing future market conditions.
