Gilwood, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| 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 Gilwood, Alberta is currently experiencing a period of steady growth. With a median house price of $495,000 and an upward trend of 3.2% year-over-year, the market is showing signs of healthy demand. Similarly, the median apartment price stands at $310,000, which has increased by 2.5% over the past year.
This moderate price appreciation can be attributed to a range of factors including the robust population growth of 4.8%, which is substantially higher than the national average. This demographic trend suggests a consistent influx of new residents seeking housing in the area, which could be driving up demand and subsequently prices in both the house and apartment sectors.
Investment Opportunities and Potential
Gilwood’s strong population growth coupled with steady price increases presents a potentially lucrative opportunity for real estate investors. The single-family housing market, given its higher year-over-year price increase, may offer particularly attractive capital appreciation prospects. Rental properties are also likely to be in high demand due to the growing population, potentially providing investors with a stable income stream.
Furthermore, the current trends indicate that apartments are becoming an increasingly popular choice for many residents. The slightly lower price growth in this sector may provide more affordable entry points for investors looking to diversify their portfolio or for first-time investors seeking opportunities in Gilwood’s real estate market.
Future Market Outlook
Looking forward, Gilwood’s real estate market appears poised for continued growth. The ongoing population increase should keep demand for housing buoyant. If local economic conditions remain favorable and interest rates stable, we can expect both the house and apartment markets to maintain their gradual upward trajectory.
Investors should monitor infrastructure developments and employment opportunities within Gilwood as these will be key drivers influencing future real estate values. It is also advisable to stay informed about any changes in municipal housing policies that might impact supply dynamics. Overall, if current trends persist, Gilwood’s real estate market may offer sustained potential for both homebuyers and investors alike.
