Glenwood, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.9% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Glenwood, Alberta
In Glenwood, Alberta, the real estate market is currently experiencing a phase of steady growth. The median house price stands at $485,000, which indicates a positive year-over-year increment of 2.9%. This demonstrates a healthy demand for single-family homes in the region. Similarly, the median apartment price is $295,000, reflecting a year-over-year growth of 2%. This points towards a consistent demand in the condominium market as well.
The population of Glenwood has grown to 15,200 residents, with an increase of 2.7%, suggesting that the area is attracting new residents and potentially impacting housing demand positively. The current trends indicate a balanced market where both buyers and sellers have opportunities to benefit from real estate transactions.
Investment Opportunities and Potential in Glenwood
With the steadiness in property value appreciation, Glenwood presents promising investment opportunities. The real estate market’s resilience and consistency are encouraging for investors seeking long-term capital gains. Single-family houses present a robust investment option due to their higher year-over-year price trend.
Apartments also offer investment potential with their 2% annual price increase and may appeal to investors looking for lower entry points into the property market or those interested in catering to rental demands. Given the population growth rate, demand for rental properties is likely to remain strong or increase, making it an appealing segment for investors.
Future Market Outlook for Glenwood Real Estate
The future outlook for Glenwood’s real estate market appears optimistic based on current trends and demographic indicators. Continued population growth will likely sustain demand for housing across various segments including single-family homes and apartments. Assuming local economic conditions remain favorable and no significant external shocks occur, the property market should maintain its growth trajectory.
The steady increases in property values suggest that Glenwood will continue to be an attractive location for both homebuyers and investors. However, as with all real estate markets, potential changes in economic conditions, interest rates, and government policies could affect future performance.
The key takeaway for stakeholders is that while the current market conditions are promising, staying informed about local and national economic factors remains essential for making prudent real estate decisions in Glenwood.
