Tilley, 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 (2025) | 15,000 |
| Previous Population (2020) | 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 Tilley, Alberta, is experiencing steady growth, as indicated by the median house price of $500,000, which has been on a rise with a year-over-year trend of 3.5%. This suggests a healthy demand for housing within the area. Similarly, the median apartment price stands at $300,000, with a slightly lower growth rate of 2.1% year-over-year. This disparity in growth rates may reflect a stronger preference or demand for houses over apartments in this market.
The population of Tilley has reached approximately 15,000 residents, with an impressive growth rate of 7.1%. Such significant population growth contributes to the demand for housing and can be seen as an indicator of economic vitality and potential for further real estate development.
Investment Opportunities and Potential
In light of the current market trends and population dynamics, Tilley presents several attractive investment opportunities. The consistent increase in house prices suggests that investing in residential properties could yield substantial returns over time. The lower growth rate for apartment prices might offer more affordable entry points for investors while still providing potential for long-term appreciation.
The robust population growth not only signals a growing demand for housing but may also lead to increased rental demand. Investors looking into rental properties or developments could benefit from the expanding local workforce and potentially higher rental yields as the supply strives to meet the rising demand.
Future Market Outlook
The future real estate market outlook for Tilley, Alberta, remains optimistic. With ongoing population growth and sustained increases in property values, it is reasonable to forecast that these trends will continue into the near future. The town’s economic conditions and attractiveness to new residents are likely to promote further development in both residential and commercial real estate sectors.
However, potential investors should also remain mindful of broader economic factors that could impact interest rates and affordability. Keeping abreast of local developments such as infrastructure projects, changes in employment rates, and other economic indicators will be crucial for making informed investment decisions moving forward.
