Morley, 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 Morley, Alberta is currently experiencing steady growth, evidenced by the increase in median house prices by 3.5% year-over-year, with current figures standing at $500,000. This suggests a healthy demand for single-family homes in the area. Similarly, the median apartment price has seen a slower yet consistent rise of 2.1% over the same period, indicating a stable market for multifamily units as well.
With a population of 15,000 that has grown by 7.1%, Morley is exhibiting signs of an expanding community which could be contributing to the demand for housing. The population growth also implies an influx of new residents that could be a mix of young professionals, families, and possibly retirees looking for residential opportunities in the region.
Investment Opportunities and Potential
Given the solid trajectory of property values and the robust population increase, Morley presents several promising investment opportunities. Investors looking to enter or expand their presence in the Morley real estate market might consider long-term residential rentals due to the consistent appreciation in housing prices. The growth in multi-unit dwellings, such as apartments priced at a median of $300,000 with a moderate appreciation trend of 2.1%, may appeal to those interested in diversifying their portfolio with more affordable properties that cater to individuals or small families.
Additionally, given the ongoing population growth, there is potential for development projects that can meet the burgeoning demand for housing. This could include both new construction and renovation projects aimed at revitalizing existing properties to enhance their value and appeal to prospective buyers or tenants.
Future Market Outlook
The future outlook for Morley’s real estate market remains optimistic based on current trends. Should the population continue to grow at its current rate or higher, demand for housing is expected to sustain or even increase. This demographic trend coupled with a steady appreciation in property values points towards a market that is ripe for continued investment and development.
However, it’s important for investors and stakeholders to monitor external factors such as economic conditions, interest rates, and government housing policies which can significantly impact local real estate markets. A cautious yet proactive approach will help capitalize on potential growth while mitigating risks associated with market fluctuations.
