Graminia, 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 in Graminia, Alberta
The real estate market in Graminia, Alberta, currently presents a stable environment with consistent growth. The median house price stands at $500,000, indicating a robust section of the market catering to mid to high-income earners. This price point has experienced a 3.5% increase year-over-year, suggesting a steady demand for housing in the area despite broader economic conditions.
Similarly, the apartment market demonstrates resilience with a median price of $300,000 and a growth trend of 2.1% year-over-year. This growth is slightly more modest than that of houses but still signals positive momentum in the local real estate market.
The population of Graminia has seen an impressive growth rate of 7.1%, which is likely contributing to the increased demand for both houses and apartments. With a growing population, the real estate market is expected to maintain its upward trajectory as new residents seek accommodation.
Investment Opportunities and Potential in Graminia
The steady increase in housing prices coupled with significant population growth positions Graminia as an attractive location for real estate investment. The consistent appreciation in property values indicates that investments made today have potential for capital gains over time. Moreover, with a growing population, there’s an anticipated rise in demand for rental properties, which could benefit investors looking for regular income streams through leasing activities.
Given the current trends, investors may find particular value in mid-range single-family homes and apartments that cater to the majority of the market. These properties are likely to benefit from both property value appreciation and rental income potential.
Future Market Outlook for Graminia Real Estate
The future outlook for Graminia’s real estate market appears positive based on current trends and demographic data. The ongoing population growth suggests that demand will continue to drive the real estate sector forward. If the 7.1% population increase continues or even stabilizes at a slightly lower rate, it will nonetheless fuel housing needs and likely lead to sustained or increased property value appreciation.
The year-over-year house price trend of 3.5% and apartment price trend of 2.1% reflect healthy market conditions that are expected to persist in the near term. Investors should monitor these trends closely as they consider long-term strategies and opportunities within Graminia’s dynamic real estate landscape.
In conclusion, Graminia offers favorable conditions for real estate investment due to its growing population and consistent property value appreciation. Stakeholders should maintain an optimistic yet cautious approach while navigating this evolving market.
