Sheerness, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 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 Sheerness, Alberta, is currently indicating moderate growth. The median house price in the area stands at $485,000, which reflects a year-over-year increase of 2.8%. This incremental rise suggests a stable market that is steadily appreciating in value without the volatility seen in some hot markets.
Similarly, the apartment sector has shown growth, albeit at a slower pace. The median apartment price is currently $295,000, with a year-over-year trend increasing by 1.5%. The less pronounced increase in apartment prices could be indicative of a more significant supply or less demand relative to detached homes.
The demographic trend is also positive, with the population growing at a healthy rate of 3.3%, now standing at approximately 15,500 residents. This increase reflects consumer confidence and potential for further real estate demand.
Investment Opportunities and Potential
The steady growth in property values coupled with the robust population increase suggests that Sheerness holds solid potential for real estate investment. The consistent appreciation of house and apartment prices points towards a balanced market where investment risks are moderate and long-term capital gains can be anticipated.
For investors looking at rental properties, the growing population may signal an increasing demand for rental units, potentially leading to favorable rental yields. Moreover, the differential growth rates between houses and apartments suggest there may be untapped potential in the apartment market that could offer lower entry points and good upside for investors keen on diversifying their portfolios.
Future Market Outlook
The future outlook for Sheerness’s real estate market appears cautiously optimistic. With its current trajectory of population growth and gradual appreciation in property values, there is reason to believe that these trends will persist into the near future barring any unforeseen economic disruptions.
If current conditions remain constant, investors and homeowners could expect continued but measured increases in property values. The local economy’s health will play a crucial role in sustaining this growth, along with interest rates and employment levels which are external factors that can significantly influence real estate markets.
Overall, Sheerness represents a market with sound fundamentals underpinning its investment potential. Caution should be exercised as with any property investment; however, the data points to an environment where moderate risk could lead to reliable returns over time.
