Gordondale, 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 Gordondale, Alberta is currently experiencing a steady growth trend. With the median house price standing at $500,000, there has been a year-over-year increase of 3.5%, indicating a healthy demand for housing in the area. Similarly, the median apartment price is at $300,000 with a slightly lower growth rate of 2.1% year-over-year. This suggests that while houses are in higher demand, apartments are also appreciating but at a more modest pace.
The population of Gordondale has reached 15,000 and has seen a significant population growth of 7.1%. This demographic expansion may be contributing to the upward pressure on housing prices, as more people are vying for property in this region.
Investment Opportunities and Potential
Given the steady increase in property values and the robust population growth, Gordondale presents attractive investment opportunities. The housing market’s consistent appreciation suggests that investing in residential properties could yield solid returns over time. Moreover, as the population continues to grow, rental properties may benefit from higher demand, potentially leading to increased rental yields for investors.
For those looking to invest in the apartment sector, the slower growth rate compared to houses indicates a more accessible entry point for investors with smaller capital outlays. This segment of the market might appeal particularly to first-time investors or those interested in diversifying their portfolio with different types of real estate assets.
Future Market Outlook
The future outlook for Gordondale’s real estate market remains optimistic. If current trends persist, we can anticipate continued property value appreciation at a steady pace. The ongoing population growth will likely sustain demand for both purchasing and renting properties.
However, investors and homebuyers should remain cognizant of broader economic conditions and potential local developments that could impact market dynamics. It would be prudent to monitor interest rate changes, employment rates within Gordondale and surrounding areas, and any significant policy adjustments affecting the real estate sector.
In summary, Gordondale represents a promising market for both residential property buyers and real estate investors. The key will be to stay informed about market movements and regional economic health to make well-timed investment decisions.
