Taber, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $410,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.7 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Taber, Alberta, is currently experiencing steady growth. With a median house price of $495,000 and an upward trend of 3.2% year-over-year, the market demonstrates resilience and a positive trajectory. In contrast, the median apartment price stands at $295,000, with a slower growth rate of 2% year-over-year. The current conditions suggest a more robust demand for houses compared to apartments.
The population of Taber has reached 15,200 residents and is continuing to grow at a rate of 2.7%, which may contribute to a sustained demand for housing in the area. This growth can be attributed to both natural population increase and migration, as individuals and families are attracted to Taber’s economic opportunities and quality of life.
Investment Opportunities and Potential
Investors considering the Taber real estate market can find potential in both the residential housing and apartment sectors. The steady increase in median house prices indicates a healthy market with room for appreciation. Rental properties also present an opportunity as the local population grows; investors could capitalize on rising demand for living spaces.
Given that house prices are growing at a faster pace than apartment prices, investors may find more significant capital gains in purchasing single-family homes or developing new residential projects. However, the relatively lower price point and growth rate of apartments should not be overlooked as they might offer entry points for investors with different budget constraints or strategies that focus on rental income.
Future Market Outlook
The future outlook for Taber’s real estate market appears optimistic. Assuming consistent population growth and economic stability, we can anticipate continued demand for housing. The past trends suggest that both house and apartment prices will likely continue their upward trajectory, albeit at different rates.
If the current growth patterns hold, investors could see continued appreciation in property values over the medium to long term. Nonetheless, it is crucial for stakeholders to monitor external economic factors that could impact these trends, such as changes in employment rates, interest rates, and regional developments that affect livability and attractiveness of the area.
In conclusion, Taber presents itself as an attractive market for both residential buyers and real estate investors. The steady price increases across housing types combined with demographic growth position Taber as a market with favorable conditions for sustained investment opportunities.
