Sharples, 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 (2024) | 15,000 |
| Previous Population (2019) | 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
In Sharples, Alberta, the real estate market has exhibited steady growth over the past year. The median house price currently stands at $500,000, reflecting a year-over-year increase of 3.5%. This trend points to a healthy demand for single-family homes, aligning with the national pattern of homebuyers seeking more space amid the ongoing global conditions.
Conversely, the apartment market in Sharples has seen a more modest growth rate. The median apartment price is $300,000, with prices rising by 2.1% year-over-year. This suggests that while there is interest in multifamily dwellings, it is not as robust as the single-family home market.
The local population has risen to 15,000, marking a significant growth rate of 7.1%. Such demographic trends are typically indicative of vibrant local economies and can be a precursor to sustained real estate demand.
Investment Opportunities and Potential
The continued population growth paired with consistent property value appreciation presents investors with an attractive opportunity in Sharples. Investment in single-family homes appears particularly promising due to their higher appreciation rates and the ongoing consumer shift towards this type of housing.
Given the moderate appreciation rate for apartments, these properties could appeal to investors seeking more affordable entry points into the real estate market or those looking to capitalize on rental income given the increasing population. However, careful market analysis should be conducted to assess rental demand and yields.
A potential area for investment could also be in developing housing that meets the needs of this growing community, potentially focusing on sustainable and energy-efficient properties that are becoming increasingly desirable among homebuyers.
Future Market Outlook
The future market outlook for Sharples remains optimistic. With strong population growth projected to continue based on recent trends, demand for housing is likely to sustain its upward trajectory. Should local employment opportunities expand alongside population increases, this could provide further support for house price growth above current rates.
The ongoing development of infrastructure and community amenities in response to an expanding population may lead to new pockets of growth within Sharples’ real estate market. Investors and homeowners should monitor such developments closely as they can have significant impacts on property values.
Overall, while macroeconomic factors such as interest rates and national economic performance will influence Sharples’ market conditions, current data suggests that both short-term stability and long-term growth are probable in this region.
