Morningside, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $510,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $510,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $345,000 |
| 3 bedrooms | $455,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Morningside, Alberta is currently experiencing a positive growth trend. With a median house price of $510,000, the market has seen a healthy appreciation of 4.2% over the past year. This indicates a robust demand for single-family homes in the area, likely driven by favorable local economic conditions and demographic factors. Similarly, apartment prices have also risen but at a somewhat slower pace, with a 2.5% year-over-year increase to reach a median price point of $295,000. These trends suggest that both sectors of the housing market are steadily growing, but houses are gaining value faster than apartments.
Investment Opportunities and Potential
Investors looking into the Morningside real estate market may find significant opportunities for both short-term gains and long-term equity growth. The steady increase in property values across housing types points to a stable investment environment. Single-family homes represent an especially compelling option given their higher rate of appreciation compared to apartments. Additionally, with the population growing at a rate of 2.7%, demand for housing in Morningside is expected to remain strong, potentially driving rental yields and property values upward. Investors should consider diversifying their portfolios with properties that cater to different segments of the market to mitigate risk while capitalizing on the overall positive trend.
Future Market Outlook
The future market outlook for Morningside appears promising based on current indicators. Population growth remains robust at 2.7%, which will likely continue fueling housing demand. Given the sustained upward trend in property prices and the area’s economic prospects, it’s reasonable to anticipate further growth in real estate values over the coming years. However, investors and potential homeowners should monitor local economic developments and national real estate policies that might impact mortgage rates, affordability, and investment attractiveness. Vigilance in these areas will be key to making informed decisions in the Morningside real estate market.
