Galahad, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $570,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,800 |
| Population Change | 1.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Galahad, Alberta, is currently experiencing a steady growth pattern. With a median house price of $485,000, the year-over-year increase sits at 2.8%, demonstrating a stable upward trend in property values. The median apartment price is also following a similar trajectory with a current valuation of $295,000, having risen by 2.5% from the previous year.
This moderate pace suggests a balanced market that benefits both buyers and sellers. The population of Galahad stands at 15,000 and has seen a growth rate of 1.35%, which can be indicative of an influx of new residents or an improvement in the local economy. Both factors could contribute to sustained demand for housing.
Investment Opportunities and Potential
With its consistent growth in property values, Galahad presents appealing investment opportunities for those looking to enter the real estate market or expand their portfolio. The stable increase in housing prices indicates that investments made today have the potential for capital appreciation over time.
Furthermore, the steady population growth suggests that rental properties could be in high demand, offering investors a chance to capitalize on potentially lucrative rental income streams. Investors should take note of the relatively affordable apartment prices compared to single-family homes which could represent an entry point into the market with lower initial capital requirements and solid growth prospects.
Future Market Outlook
The future market outlook for Galahad’s real estate appears optimistic. The consistent growth in property prices is expected to continue barring any unforeseen economic upheavals. As long as the population continues to grow at a steady rate, demand for housing should remain strong, supporting both resale values and rental market stability.
However, potential investors and homeowners should be aware of external economic factors such as interest rates, employment rates, and regional economic policies that could impact market conditions. Careful consideration of these factors alongside close monitoring of local developments will be key to making informed decisions in Galahad’s real estate market.
