Peers, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 3.2% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $570,000 |
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 | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Peers, Alberta, the real estate market is currently experiencing stable growth. The median house price in the region is $485,000, reflecting a year-over-year increase of 3.2%. This steady upward trend suggests a healthy demand for single-family homes and a competitive market environment.
Similarly, the median apartment price stands at $295,000, with a more modest year-over-year appreciation of 1.9%. The slower growth rate in apartment prices compared to houses indicates a market that is more accessible to first-time buyers and investors looking for lower entry points into the real estate market.
With a population of 15,500 that has grown by 3.33%, there is evidence of demographic trends supporting the demand for housing in Peers. This population growth can be attributed to both natural growth and migration, as individuals and families are attracted to the area’s economic opportunities and quality of life.
Investment Opportunities and Potential
The consistent increase in property values coupled with ongoing population growth presents significant investment opportunities in Peers. The stability shown in the housing market makes it an attractive prospect for long-term capital gains. For investors targeting rental properties, the influx of new residents may lead to increased rental demand, potentially yielding favorable returns on investment through rental income.
Given that apartment prices are rising at a slower pace, investors might find particularly good value in this segment of the market. Apartments could serve as an ideal option for those seeking to cater to professionals or smaller households who prefer more affordable, low-maintenance living spaces.
Future Market Outlook
The future outlook for Peers’ real estate market remains optimistic given current trends and demographic data. If the local economy continues to provide jobs and attract residents, it is reasonable to anticipate continued growth in property values. However, potential investors should also consider economic diversification efforts within the region, as reliance on any single industry could pose risks to long-term stability.
The consistent rise in median house prices suggests that Peers will continue to see investment in residential real estate as a safe haven. Furthermore, as long as population growth maintains its current trajectory, demand for housing in both purchase and rental markets is likely to remain strong. Ultimately, careful monitoring of economic indicators and considering national monetary policies will be crucial for accurately predicting future trends.
