Gibbons, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $560,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $400,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.7% |
| 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 Gibbons, Alberta has exhibited steady growth over the past year. The median house price currently stands at $485,000, marking a year-over-year increase of 4%. This suggests a healthy demand for housing and a competitive market for potential home buyers. Meanwhile, apartments have seen a slightly lower yet positive trend with the median price at $295,000, growing by 2.5% year-over-year.
This steady growth can be partially attributed to Gibbons’ growing population, which has expanded by 2.7%, bringing the total to approximately 15,200 residents. The influx of new residents may be fuelling demand for housing and contributing to the upward pressure on home prices.
Investment Opportunities and Potential
In terms of investment opportunities, Gibbons presents potential for both long-term capital growth and rental income streams. The consistent rise in property values suggests that investments in residential properties could yield profitable returns as the market continues to grow. Moreover, the sustained population increase signals ongoing demand for rental properties, which could benefit investors looking to enter the landlord market.
Given the more moderate price point of apartments compared to houses, there may be an opportunity for investors to cater to individuals or smaller families seeking more affordable living options. Additionally, the slower growth rate in apartment prices might allow investors to enter the market at a lower initial cost while still participating in value appreciation over time.
Future Market Outlook
The future outlook for Gibbons’ real estate market remains optimistic based on current trends and demographic factors. Continued population growth is likely to sustain demand for housing in both purchase and rental segments. With a 4% annual increase in house prices and a 2.5% rise in apartment prices, there is an expectation that property values will keep trending upwards, albeit at a sustainable pace.
The local economy’s health and development projects within Gibbons will also play crucial roles in shaping the future market conditions. Investors and prospective homebuyers should monitor economic indicators and municipal plans to gauge long-term trends further.
In summary, Gibbons offers promising prospects for real estate investment and homeownership against a backdrop of gradual price appreciation and population growth. Stakeholders are encouraged to consider these factors carefully when making decisions in this active Alberta housing market.
