Goodwin, 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 Goodwin, Alberta, is currently experiencing steady growth. With a median house price of $500,000 and an annual appreciation trend of 3.5%, the market is showing signs of healthy demand. Similarly, apartments are exhibiting a positive trend with a median price of $300,000 and a year-over-year increase of 2.1%. This consistent growth indicates a stable local real estate environment.
The demographic backdrop underpinning these trends is significant. Goodwin’s population has seen a robust increase of 7.1%, suggesting that the area is attracting new residents at a notable rate. This influx may be contributing to the sustained demand for housing within the community.
Investment Opportunities and Potential
For investors considering Goodwin’s property market, there are several promising factors. The steady price appreciation for both houses and apartments points to the potential for continued capital gains over the medium to long term. Given the population growth, rental properties may offer attractive yields as demand for housing is likely to remain strong.
Investment in residential properties could be particularly lucrative due to the city’s increasing population and corresponding need for accommodation. Houses present an opportunity for those looking to invest in family-sized dwellings, while apartments cater to smaller households or individuals who are part of the growing workforce in Goodwin.
Future Market Outlook
Looking forward, the real estate market in Goodwin shows signs of ongoing strength. If current trends continue—supported by population growth and economic stability—the market could see sustained appreciation rates. Investors should be mindful of local economic policies, infrastructure developments, and employment rates as these factors will also play a crucial role in shaping the future real estate landscape.
However, it’s important for stakeholders to conduct comprehensive due diligence before making investment decisions, as markets can shift due to unforeseen circumstances. Staying informed about both local developments and broader national economic conditions will be key to navigating the future real estate market in Goodwin.
