Minburn, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.9% |
| Stock on market | 1.4% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $570,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $335,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Minburn, Alberta
The real estate market in Minburn, Alberta currently presents a stable environment with a median house price of $485,000, which has seen a moderate growth rate of 2.8% year-over-year. This indicates a steady demand for housing in the area, reflecting consistent market conditions that are favorable to both buyers and sellers. The median apartment price is currently at $295,000, experiencing a slightly lower growth trend of 1.9% year-over-year. This could suggest that apartments are a more accessible entry point into the real estate market for new homebuyers or investors.
In terms of demographics, Minburn’s population stands at 15,200 and has experienced a robust growth rate of 2.7%. An increasing population often correlates with augmented housing demand, which may subsequently sustain or increase property values over time. The current market conditions coupled with population trends paint an image of a potentially expanding real estate market.
Investment Opportunities and Potential in Minburn
Given the steady growth in property values and the increasing population, Minburn offers promising investment opportunities. The consistent rise in median house prices suggests room for capital gains for long-term investors. Furthermore, the slower growth rate in apartment prices compared to houses indicates potential for rental investments as apartments could yield high rental demand due to their affordability.
Investors might also consider the possibility of investing in new development projects to cater to the growing population or targeting refurbishment of older properties to capitalize on the trend towards modernized living spaces. The overall economic health and stability suggested by the current trends make Minburn an attractive location for real estate investment strategies aimed at both immediate cash flow and long-term property value appreciation.
Future Market Outlook for Minburn
The future market outlook for Minburn remains optimistic based on existing trends. As long as the population continues to grow at a healthy rate, it will likely fuel demand for housing across both the private purchase and rental sectors. Assuming continued economic stability within Alberta and Canada as a whole, the market conditions may continue on their current trajectory or potentially improve.
The ongoing development of local infrastructure and amenities as a response to population growth could further enhance property values by making Minburn more attractive to potential residents. Nevertheless, investors should remain cognizant of broader economic factors such as interest rates, employment rates, and national economic policies that can impact local markets profoundly.
In conclusion, while there is no certainty in predicting future real estate markets, current data combined with observed trends suggest that Minburn’s real estate market holds potential for sustained growth and investment viability over the coming years.
