Stettler, 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 Stettler, Alberta
The real estate market in Stettler, Alberta is currently experiencing a period of steady growth. The median house price stands at $500,000, which indicates a year-over-year increase of 3.5%. This suggests a healthy demand for detached homes in the region. Likewise, the apartment sector is also showing positive momentum with the median apartment price reaching $300,000, reflecting a more modest year-over-year uptick of 2.1%. These trends are taking place against the backdrop of a growing population, which has risen by 7.1%, signaling robust demographic support for the housing market.
Investment Opportunities and Potential in Stettler
Given the current trends, Stettler presents itself as an appealing destination for real estate investors. The consistent growth in house prices is indicative of a market that has not yet reached its peak, offering potential for capital gains to those investing in residential properties. The steady increase in apartment prices also points towards opportunities in the multifamily housing sector, particularly attractive for investors looking to cater to individuals and smaller households. Furthermore, with the population on the rise, demand for rental properties is likely to grow, providing a potentially lucrative income stream for buy-to-let investors.
Future Market Outlook for Stettler’s Real Estate
The future market outlook for Stettler’s real estate appears optimistic. The ongoing population growth is expected to continue fueling housing demand. If current economic conditions persist and the local employment market remains stable or improves, we can anticipate further increases in property values. However, investors should remain vigilant of broader economic indicators and potential policy changes that could impact interest rates and borrowing costs. Overall, with careful consideration of market dynamics, Stettler’s real estate market offers promising prospects for both short-term gains and long-term investment stability.
