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 (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
The real estate market in Strathmore, Alberta, is currently experiencing steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing resilience and attractiveness to potential homebuyers and investors alike. The apartment sector is also seeing positive movement with a median price of $300,000 and a growth trend of 2.1% year-over-year. This balanced growth across different housing types indicates a stable market that is accommodating a range of buyer preferences and budgets.
The population of Strathmore has reached 15,000 residents, exhibiting a strong growth rate of 7.1%. This demographic expansion underscores an increasing demand for housing and augments the potential for both rental and sales markets. The town’s proximity to major economic hubs, coupled with its community appeal, continues to drive interest from both local and non-local buyers.
Investment Opportunities and Potential
Considering the sustained growth in property values and the significant population increase, Strathmore represents a compelling opportunity for real estate investment. The steady climb in the median house price suggests that single-family homes are particularly attractive as long-term investments. Furthermore, the consistent rise in apartment prices points to opportunities within the multifamily segment, especially for investors focusing on rental income.
The current trends also suggest that new developments have room to thrive in this expanding market. Developers and investors can capitalize on the demand for both rental units and owner-occupied homes. Given the town’s growth trajectory, investments in residential properties could benefit from appreciation over time as well as from rental yields in line with population growth.
Future Market Outlook
The future outlook for Strathmore’s real estate market remains positive based on current trends and demographic indicators. As population growth continues to outpace national averages, demand for housing is expected to remain robust. This factor will likely contribute to sustained or even increased rates of property value appreciation over the coming years.
With infrastructure investment keeping pace with residential needs—a critical factor for long-term sustainability—Strathmore’s real estate market is poised for continued success. Investors should monitor local economic developments closely as they can further influence housing demand and market dynamics.
In summary, Strathmore offers a stable environment for real estate investment with promising conditions for both immediate returns in terms of rental income and long-term capital gains driven by population growth and sustainable development.
