Mirror, 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 | 1.5% |
| 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 | $325,000 |
| 3 bedrooms | $410,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Mirror, Alberta, is currently experiencing moderate growth. The median house price stands at $485,000, with a year-over-year increase of 2.8%. This steady growth indicates a stable market that continues to attract homebuyers and investors alike. Similarly, the median apartment price has seen an uptick to $295,000, with a more modest year-over-year growth of 1.5%. These trends are reflective of a balanced market where demand is meeting supply without significant fluctuations.
Investment Opportunities and Potential
With a population of 15,500 that is growing at a rate of 3.33% annually, Mirror presents numerous opportunities for real estate investment. The consistent population growth suggests sustained demand for housing in the future. Single-family homes, given their higher appreciation rate, offer attractive opportunities for long-term capital gains. Apartments also present viable options for investors seeking rental income, particularly as the local workforce expands alongside the population.
Future Market Outlook
The future market outlook for Mirror, Alberta, appears promising. Given the current growth trends and ongoing population increase, demand for housing is expected to remain strong. This will likely support continued appreciation in property values though at a sustainable rate as indicated by the current trends. Additionally, as the local economy diversifies and infrastructure improves along with population expansion, we can anticipate an increase in interest from both first-time homebuyers and seasoned investors.
