Taylor, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.9% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.7% |
| Stock on market | 1.0% |
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 | $330,000 |
| 3 bedrooms | $415,000 |
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) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Taylor, Alberta is currently exhibiting steady growth. The median house price stands at $485,000, with a year-over-year increase of 2.9%. This suggests a healthy demand for detached homes, reflecting consumer confidence and a robust local economy. Similarly, the median apartment price has risen to $295,000, showing a more modest growth of 1.7% year-over-year.
The area’s population has reached approximately 15,200 residents, with a growth rate of 2.7%. This demographic expansion is likely contributing to the sustained demand for housing and can be seen as an indicator of market stability.
Investment Opportunities and Potential
In light of the current trends, Taylor presents several attractive investment opportunities. The consistent increase in housing prices indicates a stable appreciation in property values, which could benefit long-term investors. Moreover, the positive population growth rate may lead to increased rental demand, especially for apartments, thereby providing potential for rental income investments.
Investors should consider both the single-family home segment and the apartment sector when evaluating opportunities. With houses experiencing a slightly higher growth rate in value compared to apartments, they may offer better capital appreciation potential in the medium to long term. However, apartments could appeal to investors seeking lower entry points and potentially higher rental yields relative to their investment.
Future Market Outlook
The future real estate market outlook for Taylor appears promising. The steady growth in population and housing prices suggests that the demand for residential properties will remain robust. Assuming no major economic disruptions occur, one can expect continued moderate price appreciation across both houses and apartments.
The market dynamics indicate that Taylor could maintain its momentum as an attractive location for both families looking to purchase homes and investors seeking reliable returns on rental properties. However, it is crucial for stakeholders to stay informed about local development plans, economic policies, and infrastructure improvements that might impact the market conditions moving forward.
