Glenevis, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.8% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| 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 Glenevis, Alberta, has shown a steady increase in property values. With the median house price currently at $485,000, the market has experienced a year-over-year growth of 2.8%. This indicates a healthy demand for housing in the region. Similarly, the median apartment price is $295,000, with a slightly lower growth rate of 1.8% year-over-year.
The population of Glenevis stands at 15,500, which has grown by 3.3% recently. This growth suggests an increasing demand for housing and can be correlated with the positive trends in property values. The consistent rise in prices signifies that the real estate market in Glenevis is robust, with both residential houses and apartments seeing appreciation over time.
Investment Opportunities and Potential
For investors looking at long-term capital gains, Glenevis presents significant opportunities. The steady increase in property prices coupled with population growth points to a strong potential for rental demand and property value appreciation. Investing in residential properties could yield favorable returns as the market shows no signs of an immediate slowdown.
The current trends suggest that single-family homes are appreciating at a faster rate than apartments, which could attract investors interested in purchasing properties that are likely to experience greater capital gains. Additionally, given the steady population increase, there is potential for developing multi-unit rental properties to cater to new residents looking for accommodation.
Future Market Outlook
The future outlook for the Glenevis real estate market remains optimistic. The continuous population growth serves as a catalyst for sustained demand in housing. If current trends persist, we can anticipate further price increases for both houses and apartments. However, it’s important for potential investors and homebuyers to monitor economic factors such as employment rates, interest rates, and regional economic development initiatives as they can significantly impact real estate markets.
Given the data-driven trends observed over the past year, it would be prudent for stakeholders to consider Glenevis as a compelling location for real estate investment or homeownership over the coming years.
