Mulhurst, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $490,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $490,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Mulhurst, Alberta is experiencing a period of steady growth. The median house price currently stands at $490,000, with a positive year-over-year trend of 2.8%. This increase suggests a healthy demand for homes in the area, which may be driven by factors such as the region’s economic stability and the overall quality of life in Mulhurst.
Similarly, the apartment sector is showing growth, albeit at a slightly slower pace. The median apartment price is $295,000, with an annual increase of 1.5%. This difference in growth rates between houses and apartments could indicate a stronger preference among buyers and investors for detached homes or could reflect a more significant inventory or variety of houses available.
The population of Mulhurst has reached approximately 15,500 residents, with a robust growth rate of 3.3%. This suggests that the area is attracting new residents at a higher-than-average rate, potentially due to employment opportunities, lifestyle amenities, or other socio-economic factors that make Mulhurst an attractive place to live.
Investment Opportunities and Potential
Given the steady appreciation in property values and the robust population growth, Mulhurst presents compelling opportunities for real estate investment. Investors considering entry into this market might focus on single-family homes due to their higher growth rate compared to apartments. However, apartments should not be overlooked as they offer an accessible entry point into the property market and may appeal to a different segment of renters or buyers.
The consistent population increase can lead to greater rental demand, which could benefit investors looking for income properties. Moreover, new housing developments and projects catering to the influx of residents may offer additional investment opportunities.
Future Market Outlook
The future market outlook for Mulhurst appears optimistic. If current trends continue, property values are likely to keep rising moderately. The consistent population growth can serve as an indicator of continued demand for housing in both the purchase and rental markets.
However, potential investors should also consider macroeconomic factors such as interest rates, employment rates in Alberta and specifically in Mulhurst, and any changes in provincial or federal real estate regulations that could affect market dynamics.
In conclusion, while there are no guarantees in real estate investment, the data suggests that Mulhurst’s market has potential for continued growth and represents a relatively stable environment for both seasoned and new investors.
