Morningside, 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 Morningside, Alberta, is currently experiencing steady growth. The median house price is pegged at $500,000 with a healthy year-over-year increase of 3.5%. This suggests a stable and growing market that is attracting homeowners and investors alike. Similarly, the apartment sector is also showing positive momentum with a median price of $300,000 and a 2.1% year-over-year trend in appreciation.
These trends are underpinned by a robust population growth of 7.1%, which indicates that Morningside is an expanding community with increasing housing demand. The demographic expansion is likely contributing to the sustained real estate appreciation and creating a dynamic market environment.
Investment Opportunities and Potential
For investors looking at Morningside’s real estate landscape, there are several opportunities to consider. Given the consistent growth in property values, investing in residential properties could be promising. The single-family homes market, with its current median price and upward trend, presents potential for capital gains over time.
Apartments also offer a viable investment avenue with their lower entry price point and steady appreciation rate. Investors might find opportunities in both rental markets due to the growing population or in buying to sell as the market continues to appreciate.
The ongoing population growth further suggests that there may be a need for new housing developments and thus opportunities for development projects. Investors with a long-term strategy might also consider land acquisition for future residential projects.
Future Market Outlook
The future of Morningside’s real estate market looks optimistic given current indicators. The combination of strong population growth and consistent property value increases points towards continued demand for housing. As long as these trends hold, the local real estate market should maintain its upward trajectory.
However, investors should remain aware of broader economic factors that could impact market conditions such as changes in interest rates, employment rates within the region, and provincial or federal housing policies. Monitoring these elements will be crucial for anyone engaged in the Morningside real estate market to make informed investment decisions.
