Morrin, 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 Morrin, Alberta is currently experiencing a positive trend with median house prices sitting at $500,000, which reflects a year-over-year increase of 3.5%. This suggests a steady growth in the housing sector. Similarly, the median price for apartments has seen a rise to $300,000, marking a 2.1% year-over-year uptick. The consistent growth in property values indicates a healthy demand that is likely fuelled by the area’s population growth of 7.1%, which is significantly above the national average.
Investment Opportunities and Potential
The current trends in Morrin point towards an opportune moment for real estate investment. The consistent increase in property values coupled with robust population growth suggests that there is potential for both capital appreciation and rental income in the residential market. Investors may find the lower entry point for apartments especially attractive due to their higher percentage growth compared to the national average, indicating a potentially higher return on investment in the long term.
Future Market Outlook
Looking forward, Morrin’s real estate market holds promise for sustained growth. With a notable rate of population expansion at 7.1%, demand for housing is expected to remain high, potentially driving prices up further if supply does not keep pace. While current trends are positive, potential investors should also be mindful of economic factors and policies that might affect the market dynamics in the future. However, based on available data, Morrin’s market appears poised for continued strength in terms of property value and attractiveness to investors.
