Taylor, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.4% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| 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
In Taylor, Alberta, the real estate market is currently experiencing stable growth. The median house price stands at $485,000, exhibiting a year-over-year increase of 4%. This increment indicates a healthy demand for single-family homes, reflecting consumer confidence and a robust local economy. Meanwhile, apartments in Taylor are also showing positive momentum, with the median apartment price reaching $295,000 and a slightly lower year-over-year trend of 2.5%. This suggests a more gradual appreciation in the multi-family housing sector.
The population of Taylor has grown to 15,200, with an impressive growth rate of 4.8%. This demographic expansion underpins the rising housing demand, contributing to the steady climb in property values. The influx of new residents may be attributed to economic opportunities within the region or attractive lifestyle options offered by the community.
Investment Opportunities and Potential
Investment prospects in Taylor appear promising, as indicated by consistent property value appreciation and demographic trends. The single-family home segment offers potential for solid capital gains due to the higher annual growth rate of 4%. Investors could benefit from acquiring properties in this category, especially considering the ongoing population rise that could drive further demand.
On the other hand, apartments present a more accessible entry point for investors given their lower median price point. The growth rate for apartments, while more modest than houses, still suggests a steady investment opportunity with potential for rental income and long-term value appreciation. Given Taylor’s growing population and its need for diverse housing options, investing in multi-family units could be strategically advantageous.
Future Market Outlook
Looking ahead, Taylor’s real estate market is poised for continued growth. Factors such as sustained population increase and economic stability bode well for both housing demand and investment returns. Assuming no significant external shocks or policy changes that negatively impact market dynamics, both the single-family and apartment sectors should maintain their upward trajectories.
It is important for investors to monitor local development plans and economic indicators closely to identify any shifts that might influence market conditions. Nevertheless, based on current statistics and trends including the steady rise in median house and apartment prices coupled with robust population growth, Taylor’s real estate market shows signs of enduring vitality that could offer profitable opportunities for savvy investors.
