Gordondale, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.5% |
| Stock on market | 1.3% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| 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
The real estate market in Gordondale, Alberta is currently exhibiting steady growth. The median house price stands at $485,000, which represents a year-over-year increase of 2.8%. This increment suggests a healthy demand for houses in the region, possibly driven by factors such as economic stability and attractive local amenities. Additionally, apartments are also experiencing a growth trend with the median price at $295,000 and a year-over-year increase of 1.5%. The slower pace in apartment price increase compared to houses could indicate a higher preference for detached homes among the residents or investors.
Supporting this growth is the local population of 15,200, which has risen by 4.8%. This significant population growth can be contributing to increased demand for housing and may continue to propel the market forward.
Investment Opportunities and Potential
The consistent rise in property values coupled with solid population growth indicates promising investment opportunities in Gordondale’s real estate market. Investment in residential properties looks particularly appealing, given the sustained increase in median prices for both houses and apartments. The trend reflects ongoing demand that could benefit long-term investors through capital appreciation.
Furthermore, as the community’s demographic continues to expand, there will likely be an amplified need for rental properties. Investors might consider exploiting this niche by purchasing properties to rent out or by participating in new development projects aimed at meeting the forecasted housing requirements.
Future Market Outlook
The future outlook for Gordondale’s real estate market remains optimistic based on current trends and data. The persistent rise in property prices is indicative of a robust market that may continue to attract both homebuyers and investors. If the population continues to grow at the current rate of 4.8%, it is reasonable to expect that the demand for housing will maintain or even exceed its current pace.
In light of these factors, stakeholders in Gordondale’s real estate scene can likely anticipate continued appreciation of property values over the medium to long term. However, it is crucial for investors to stay informed on regional economic developments and infrastructure projects as these are key drivers that could significantly influence market dynamics going forward.
