Mundare, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,700 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Mundare, Alberta, the real estate market is experiencing steady growth. The median house price currently stands at $485,000, which reflects a year-over-year increase of 2.8%. This consistent upward trend indicates a healthy demand for single-family homes in the area. The apartment sector is also showing growth, with the median apartment price at $295,000, marking a 1.9% year-over-year increase. This suggests that smaller residential units are also becoming more valuable, albeit at a slightly slower pace compared to houses.
Investment Opportunities and Potential
The investment landscape in Mundare is promising given the current market conditions. The solid growth rate in house prices may attract investors looking for capital appreciation opportunities. Investment in apartments could be particularly attractive to those interested in catering to individuals or small families who may prefer more affordable housing options. Additionally, with a population of 15,200 that has grown by 3.4%, there is potential for increased rental demand, which could benefit investors focused on generating rental income.
Future Market Outlook
Looking forward, the real estate market in Mundare presents a positive outlook. The town’s steady population growth indicates an increasing demand for housing which could continue to drive property values upwards. Assuming that local economic conditions remain favorable and infrastructure development keeps pace with population growth, both housing and apartment markets should maintain their upward trajectory. Investors and potential homebuyers should monitor key factors such as employment rates, interest rates, and regional economic developments, as these will play crucial roles in shaping the future of Mundare’s real estate market.
