Monitor, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $515,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $515,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Monitor, Alberta is currently experiencing steady growth. With a median house price of $515,000, there has been an increase of 3.8% year-over-year, indicating a consistent upward trend in the housing sector. Similarly, the median apartment price stands at $315,000 with a 2.5% year-over-year uptick, which suggests that smaller residential units are also gaining value albeit at a slightly slower rate.
This growth can be partially attributed to the town’s increasing population, which has risen by 3.3%, signaling a robust local economy and potentially increased demand for housing. The current trends indicate a seller’s market where the demand for houses outpaces supply, leading to competitive pricing and relatively quick sales.
Investment Opportunities and Potential
For investors considering Monitor’s real estate market, the ongoing positive trends offer compelling opportunities. The consistent rise in property values represents potential for capital gains over the medium to long term. Moreover, with population growth outpacing national averages, rental properties—particularly apartments—could provide stable income streams due to high demand.
Given that apartment prices are growing at a slower rate compared to houses, there may be an opportunity to enter the market at a more accessible price point with good prospects for appreciation. Investors should also consider diversification within the local real estate market to mitigate risks and capitalize on different segments’ growth potentials.
Future Market Outlook
The future outlook for Monitor’s real estate market remains optimistic. With the continuation of population growth and economic stability within the region, demand for housing is expected to sustain or even increase. This bodes well for both homeowners and investors who could see further appreciation in property values.
However, it is crucial for stakeholders to monitor external factors such as interest rates, employment rates, and regional economic policies that could impact market dynamics. Strategic investments that account for both current trends and potential future shifts will likely yield the best results in this growing market.
