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Glenevis, 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 (2025) 15,000
Previous Population (2020) 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





Glenevis, Alberta Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Glenevis, Alberta is currently experiencing a steady growth trend. With a median house price of $500,000, the local housing market has seen an increase of 3.5% year-over-year, indicating a healthy demand for single-family homes. Similarly, the apartment sector is also showing positive performance with a median price set at $300,000 and an annual appreciation rate of 2.1%. This consistent upward trajectory in property values is reflective of a robust market that is attracting homeowners and investors alike.

The population of Glenevis stands at 15,000 residents and has witnessed significant growth with an increase of 7.1%. This demographic expansion is likely contributing to the sustained demand for housing in the area. The combination of population growth and rising property prices suggests a competitive market environment where inventory may be limited, driving further price escalations.

Investment Opportunities and Potential

For investors considering the Glenevis real estate market, there are several compelling opportunities. The steady growth in house prices alongside a strong population increase indicates potential for both capital gains and rental income investments. Single-family homes, with their higher year-over-year appreciation rate of 3.5%, could offer better long-term growth prospects compared to apartments.

Given the current trends, rental properties could also provide attractive returns as the expanding population may lead to increased demand for rental accommodations. Investors should consider both the purchase of existing properties for rental purposes as well as development projects that can cater to the influx of new residents seeking housing solutions.

Future Market Outlook

The future outlook for the Glenevis real estate market remains optimistic. Assuming the continuation of current economic conditions and population trends, it is reasonable to expect ongoing growth in property values. The consistent year-over-year increases suggest that both housing and apartment markets will remain resilient and may even see accelerated growth rates if demand continues to outpace supply.

However, potential investors and homebuyers should monitor economic indicators such as employment rates, interest rates, and regional development plans which can influence market dynamics. Long-term sustainability will depend on diversified economic growth that supports housing demand without leading to an overheated market.

In conclusion, Glenevis presents a promising landscape for real estate investment with favorable conditions for sustained growth. Stakeholders should remain vigilant to changes in market drivers but can be cautiously optimistic about the future performance of this Alberta real estate market.