Turin, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $487,500 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $487,500 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $325,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,300 |
| Previous Population (2020) | 15,000 |
| Population Change | 2.0% |
| 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 moderate growth. With a median house price of $487,500, the market has seen a year-over-year increase of 3.2%. This suggests a steady demand for residential properties, reflecting consumer confidence and a healthy economy within the region. The median apartment price stands at $295,000, with a smaller yet positive year-over-year trend of 2%. This could indicate a growing interest in more affordable and lower-maintenance living spaces.
The population of Turin has reached 15,300 residents and is growing at a rate of 2% per annum. This steady population increase contributes to the sustained demand for housing. The current trends indicate a balanced market with opportunities for both buyers and sellers. However, potential buyers may face competitive conditions for single-family homes due to their higher appreciation rate compared to apartments.
Investment Opportunities and Potential
For investors considering the Turin real estate market, the consistent growth in property values presents potential for capital gains over time. Single-family homes appear to be a particularly attractive investment given their higher appreciation rate. The ongoing population growth also implies a continuous demand for rental properties, which bodes well for real estate investors looking to enter the landlord market.
Apartments offer an alternative investment opportunity with a somewhat lower entry price point and appreciation rate, which may appeal to investors seeking more modest investments or those looking to diversify their portfolio. Given the overall stability of the market and projected population growth, rental units are likely to remain in demand, potentially providing steady rental income streams for investors.
Future Market Outlook
The future outlook for Turin’s real estate market appears promising. Population growth is expected to persist as the local economy expands and attracts new residents. If current trends continue, property values are likely to keep rising steadily—though it’s important to monitor economic factors that could affect housing affordability and mortgage rates.
Investors should be aware of potential shifts in buyer preferences as remote work becomes more prevalent, which might impact demand for properties in different neighborhoods or property types. Additionally, infrastructure developments and changes in local policies could influence future real estate dynamics.
In conclusion, while there are no guarantees in real estate investments, Turin’s market fundamentals suggest a generally positive trajectory. Prudent investors will keep abreast of regional economic indicators and stay prepared to adjust their strategies according to shifts in the marketplace.
