Monitor, 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 Monitor, Alberta is currently experiencing steady growth. With a median house price of $500,000 and an annual appreciation rate of 3.5%, the market is showing healthy upward momentum. Likewise, the median apartment price stands at $300,000, with a slightly lower year-over-year increase of 2.1%. This consistent growth in property values can be largely attributed to Monitor’s increasing population, which has surged by 7.1% recently.
The current market conditions are characterized by moderate price increases that align with both regional economic trends and national housing market dynamics. The rising population suggests a growing demand for housing which may continue to drive prices upward in the short to mid-term. However, it is important to note that while the market is expanding, it does so at a sustainable rate, indicating relative market stability and reduced risk of a real estate bubble.
Investment Opportunities and Potential
Monitor’s real estate market presents several attractive investment opportunities. The consistent rise in property values across both houses and apartments indicates that investing in residential real estate could yield solid returns over time. Given the population growth rate of 7.1%, there’s potential for increased rental demand, making buy-to-let properties particularly appealing for investors looking for steady rental income.
The moderate yet continuous growth trend in house prices provides an optimistic outlook for capital gains on long-term investments. For those willing to engage in development or renovation projects, there may be opportunities to further increase property value within this growing community. Additionally, with a median house price at half a million dollars and apartment prices averaging $300,000, there are investment options available for a range of budgets.
Future Market Outlook
The future outlook of Monitor’s real estate market appears promising based on current trends and demographic data. Assuming the local economy remains stable and the high population growth rate continues, one can expect ongoing demand for residential properties. This trend should support further gradual increases in property values and possibly attract more investors to the area.
However, prospective investors should also consider broader economic factors that could impact interest rates and lending conditions in Canada as these will influence buyer affordability and potentially affect property prices and investment returns. Monitoring local development plans and infrastructure initiatives can also provide insight into areas poised for significant growth or improvement which could affect future property valuations in Monitor.
In conclusion, Monitor’s real estate market shows potential for both short-term gains through rental income and long-term capital appreciation. Investors should keep abreast of local economic developments while considering the beneficial effects of population growth on housing demand as they formulate their investment strategies.
