Morinville, 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 in Morinville, Alberta
The real estate market in Morinville, Alberta, is currently experiencing a period of steady growth. The median house price in the area stands at $500,000, reflecting a healthy year-over-year increase of 3.5%. This indicates a robust market with consistent demand for detached homes. Similarly, the apartment sector has seen growth, with the median apartment price reaching $300,000 and an annual appreciation rate of 2.1%. Such sustained growth trends suggest that the real estate market in Morinville is stable and growing at a moderate pace compared to historic averages.
Additionally, Morinville’s population has experienced significant growth at a rate of 7.1%, which is considerably higher than many other regions. This demographic expansion contributes to increased housing demand and can be a precursor to further real estate market vitality. The growing population is likely fueling the local housing market, creating more opportunities for both buyers and sellers.
Investment Opportunities and Potential in Morinville
Given the current market conditions, Morinville presents an attractive landscape for real estate investment. The steady increase in property values indicates that investments have the potential for solid capital gains over time. The rise in detached house prices outpaces that of apartments, suggesting a potentially higher return on investment for single-family homes. However, apartments offer a more accessible entry point into the market for first-time investors or those with more modest budgets.
The town’s demographic growth also points to an opportunity for rental property investments as new residents may look for housing before purchasing. Investors could take advantage of this by acquiring properties to meet the rental demand. With population numbers expected to continue their upward trajectory, long-term investment strategies could be particularly rewarding in this region.
Future Market Outlook for Morinville
The future real estate market outlook for Morinville is optimistic due to several key factors. The consistent appreciation in property values suggests that the market should remain strong provided economic conditions remain favorable. Furthermore, with a significant population increase, there will likely be sustained demand for both home ownership and rental properties.
As long as Morinville continues to provide appealing amenities, employment opportunities, and maintains its community appeal, it is reasonable to anticipate ongoing interest from potential residents and investors alike. The town’s proximity to larger urban centers could also contribute positively to its appeal as a residential choice offering a balance between smaller-town charm and easy access to city amenities.
Investors and homebuyers considering Morinville should keep an eye on regional economic trends and infrastructure developments that could impact future property values. Nonetheless, current indicators suggest that investing in Morinville’s real estate market could be a wise decision with potential for continued growth over the coming years.
