Thorhild, 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 in Thorhild, Alberta
The real estate market in Thorhild, Alberta is currently exhibiting steady growth. With a median house price of $500,000 and an upward trend of 3.5% year-over-year, the market is indicating a healthy demand for residential properties. Similarly, apartment units are also experiencing a rise in value with the median price at $300,000 and an annual appreciation of 2.1%.
This growth is likely influenced by the area’s increasing population, which has surged by 7.1% recently. This demographic expansion suggests that there is a sustained inflow of residents who are either looking to purchase property or rent accommodations, thereby boosting the housing market.
Investment Opportunities and Potential
For investors considering Thorhild’s real estate, both residential homes and apartment units present promising opportunities. The steady increase in property values indicates a market where investment can lead to capital gains over time. Furthermore, the population growth presents potential for rental investments as new residents may seek temporary housing solutions before purchasing homes.
Investors should also note that Thorhild’s rising median prices remain accessible compared to larger urban centers, which may appeal to those seeking more affordable entry points into property investment. Additionally, the current trends suggest that early investment could yield better long-term returns as the market continues to grow.
Future Market Outlook
Looking ahead, Thorhild’s real estate market shows promise for continued growth. Factors such as ongoing population increases and economic stability are likely to foster a supportive environment for both house and apartment markets.
Given the current appreciation rates, prospective investors and homeowners can remain cautiously optimistic about the potential for further value gains moving forward. However, it is essential to monitor economic conditions and local developments closely as they can significantly affect market dynamics.
