Strathmore, 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 (2025) | 15,000 |
Previous Population (2020) | 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 Strathmore, Alberta
In Strathmore, Alberta, the real estate market is currently experiencing steady growth. The median house price stands at $500,000 with a year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes, and this trend reflects a stable growth pattern that has been apparent over the recent years.
Similarly, apartments in Strathmore are also witnessing appreciation, albeit at a slightly lower rate. The median apartment price is currently at $300,000 with an annual increase of 2.1%. This slower rate of increase compared to houses suggests that there might be a greater relative demand for detached homes or possibly a larger inventory of apartments available on the market.
The population of Strathmore has risen to 15,000 residents, marking a substantial growth rate of 7.1%. This significant demographic expansion signals a robust local economy and potentially increased demand for housing across all types.
Investment Opportunities and Potential in Strathmore
The positive trends in Strathmore’s housing market combined with its expanding population present numerous investment opportunities. The consistent rise in property values points towards the potential for sustained capital gains for investors who enter the market at this time. Given the higher growth rate for house prices compared to apartments, investing in single-family homes appears particularly promising.
Moreover, as the population continues to grow, there will likely be an increased demand for rental properties. Investors could benefit from purchasing residential properties that can be leased to meet this rising need. With the current trends, rental rates may also appreciate over time, providing another avenue for investment returns.
Future Market Outlook for Strathmore
The future market outlook for real estate in Strathmore remains optimistic. With a strong population growth rate of 7.1%, it is reasonable to anticipate that the demand for housing will continue to rise. As long as the local economic conditions remain favorable and support the inflow of new residents and businesses, both the median house and apartment prices are likely to maintain their upward trajectory.
Focusing on infrastructure development and community amenities could further enhance Strathmore’s attractiveness as a residential destination, which would positively impact real estate values. Potential investors should keep an eye on municipal planning and development initiatives as they can significantly influence future market conditions.
It’s important for investors and homebuyers alike to monitor local and national economic indicators closely as they can affect consumer confidence and borrowing costs — both critical factors influencing real estate markets.