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
1. Current Market Conditions and Trends
The real estate market in Morinville, Alberta is currently experiencing a period of steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This trend reflects a healthy demand for single-family homes in the area. Similarly, the apartment sector has witnessed growth, albeit at a slightly slower pace, with median prices at $300,000 and an annual appreciation rate of 2.1%. The population of Morinville stands at 15,000 and is on an upwards trajectory with a significant growth rate of 7.1%, suggesting an increasing demand for housing in the foreseeable future.
2. Investment Opportunities and Potential
Investors looking into the Morinville real estate market are presented with promising opportunities. The consistent rise in house prices indicates strong capital gains potential for long-term investments. The growing population suggests that rental properties could also provide sustainable income streams due to higher demand for housing. Moreover, the lower price point for apartments coupled with their steady appreciation rate highlights potential for entry-level investment and appeal to young professionals or small families seeking affordable housing options.
3. Future Market Outlook
The future outlook for Morinville’s real estate market remains optimistic. Considering the region’s robust population growth and sustained property value increases, both residential and commercial investors can expect continued appreciation in asset values. The local economy’s health will play a crucial role in this trajectory; thus, monitoring employment rates and infrastructure developments will be essential for accurate forecasting. With favorable economic policies and community development plans, Morinville could maintain its upward momentum in the real estate sector.
