Turin, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.9% |
Apartment
| Median price | $310,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 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
The real estate market in Turin, Alberta is currently experiencing steady growth. The median house price in the region stands at $495,000, showing a year-over-year increase of 4%. This indicates a healthy and stable appreciation rate for residential properties. Similarly, the median apartment price has risen to $310,000, reflecting a 2.5% year-over-year growth. These incremental rises are indicative of a market that is growing at a sustainable pace.
The population of Turin has been expanding rapidly with an impressive growth rate of 4.8%. This demographic trend is creating increased demand for housing in both the purchase and rental markets. The sustained population growth coupled with positive pricing trends suggests that the housing demand will continue to rise, potentially leading to tighter inventory and possibly higher prices if the supply does not keep pace with demand.
Investment Opportunities and Potential
Given the current market conditions, Turin represents an attractive opportunity for real estate investors. The continuous population growth is likely to maintain demand for both rental and owner-occupied properties. Investors looking at long-term capital appreciation could find value in purchasing single-family homes, given their stronger year-over-year price growth compared to apartments.
For those interested in rental properties, the increasing population and limited rise in apartment prices may suggest that there is room for potential rental income growth as demand strengthens. The rental market could become particularly lucrative if housing supply does not expand proportionally to meet the growing population’s needs.
Future Market Outlook
The future outlook for Turin’s real estate market remains optimistic based on current trends and data. If the population continues to grow at its current pace, it’s reasonable to expect that housing demand will remain robust. Should this demographic trend persist, it could lead to further tightening in the housing market which might translate into continued or even accelerated price growth over time.
However, potential investors should also consider external economic factors such as interest rates, employment rates, and regional economic development initiatives which can impact overall market conditions. A comprehensive analysis that includes these elements would be prudent before making any substantial investment decisions.
In conclusion, Turin’s real estate market shows promising signs for investment opportunities based on current statistics and trends. With careful consideration of broader economic factors and ongoing monitoring of local developments, investors could potentially capitalize on both short-term income and long-term asset appreciation.
