Gilwood, 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
Current Market Conditions and Trends
The real estate market in Gilwood, Alberta, is currently experiencing steady growth. With the median house price at $500,000, we’ve seen a year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes within the market. Similarly, apartment prices have also seen growth, albeit at a slightly lower rate of 2.1% year-over-year, bringing the median apartment price to $300,000. The consistent increase in property values suggests that real estate in Gilwood remains a desirable commodity for homeowners and investors alike.
The population of Gilwood stands at 15,000 and has been growing at a rate of 7.1%. This rapid population growth is likely contributing to the demand for housing and could be an indicator of a strong local economy attracting new residents.
Investment Opportunities and Potential
The combination of growing property values and robust population increase makes Gilwood an attractive market for real estate investment. Single-family homes are particularly promising, with their higher rate of value appreciation. Investors can potentially expect continued growth in this segment based on current trends.
Apartments present another opportunity—especially appealing to those looking to cater to new residents who may be seeking rental accommodations before committing to purchasing property. Although apartments are appreciating at a slower rate than houses, the steady growth still suggests a reliable investment with potential for long-term gains.
Given the upward trajectory in both segments coupled with increasing population figures, it’s reasonable to conclude that there will be sustained demand for housing which should support rental income stability and property value escalation.
Future Market Outlook
Looking ahead, the future market outlook for Gilwood appears positive. Assuming current trends continue, investors and homeowners can expect ongoing appreciation in property values. The population growth rate of 7.1% is particularly encouraging as it implies further demand for housing will remain strong.
However, it’s important to monitor economic factors that could affect these trends such as employment rates, interest rates, and regional development projects. For now, with the data available up until early 2023, Gilwood presents itself as a promising location for both residential living and real estate investment opportunities.
