Peers, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $490,000 |
Monthly growth | 1.1% |
Quarterly trend | 3.0% |
Stock on market | 0.9% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.5% |
Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $490,000 |
4 bedrooms | $580,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $340,000 |
3 bedrooms | $440,000 |
Demographics
Current Population (2025) | 15,000 |
Previous Population (2020) | 14,500 |
Population Change | 3.4% |
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 Peers, Alberta is currently experiencing a steady increase in property values. With the median house price at $490,000, there has been a 3% year-over-year growth, indicating a healthy demand for residential homes. In comparison, apartments are slightly more affordable with a median price of $295,000 and have also seen a consistent increase in value at a rate of 2.5% year-over-year. These trends reflect an overall stable market that is attractive to both homeowners and investors.
Investment Opportunities and Potential
Given the current trends, investment opportunities within Peers appear promising, especially in the housing sector. The continuous growth in property values suggests that investments made today have the potential for capital appreciation in the future. Additionally, with Peers’ population growing at an impressive rate of 3.4%, there is potential for increased rental demand. This could provide investors with the opportunity to generate rental income while benefiting from long-term property value increases.
Future Market Outlook
The future market outlook for Peers, Alberta remains optimistic. The population of approximately 15,000 is on an upward trajectory which will likely continue to drive housing demand. Considering the steady growth in property prices alongside positive population trends, it’s reasonable to anticipate that Peers will maintain its course as a strong and growing real estate market. Investors and homebuyers can look forward to potential growth opportunities provided they carefully consider local market conditions and plan their investments accordingly.