Gainford, 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
1. Current Market Conditions and Trends
The real estate market in Gainford, Alberta is currently experiencing a steady growth phase. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This suggests a healthy demand for single-family homes, which may be driven by factors such as the local economy or interest rates remaining favorable for buyers. Additionally, the median apartment price is currently $300,000, having risen by 2.1% from the previous year. This more moderate growth in the apartment sector indicates a balanced market that could appeal to both investors and first-time homebuyers.
2. Investment Opportunities and Potential
With an expanding population that has grown by 7.1%, currently standing at 15,000, Gainford presents substantial investment opportunities. The steady increase in property values indicates a stable investment environment, particularly in the housing sector. Investors may find single-family homes to be attractive assets due to their higher annual appreciation rate compared to apartments.
Apartments also offer potential for rental income streams and may attract a different segment of the real estate market, including young professionals or smaller families looking for more affordable housing options within the region.
3. Future Market Outlook
The future outlook of Gainford’s real estate market appears promising. The consistent population growth suggests an ongoing demand for housing which could maintain or even push prices upward if the growth trend continues. Assuming similar economic conditions persist, property values are likely to follow an upward trajectory, albeit at a sustainable pace.
Investors should consider both current trends and long-term demographic shifts when evaluating potential investments in Gainford’s real estate market. The region’s ability to attract new residents and maintain its economic vitality will be key factors driving future property value appreciation and overall market health.
