Trending
A red, white, and black flag with a white background.

Grovedale, 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 (2025) 15,000
Previous Population (2020) 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





Grovedale, Alberta Real Estate Market Analysis

Current Market Conditions and Trends

In Grovedale, Alberta, the real estate market is currently experiencing a period of steady growth. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This consistent upward trend suggests a healthy demand for single-family homes in the area. Similarly, the median apartment price is set at $300,000 with a more modest growth rate of 2.1% over the same period.

The town’s population has reached 15,000 residents and shows a robust growth rate of 7.1%, indicating an expanding community that could further fuel housing demands. The positive population trend correlates with the increased need for housing, potentially driving future appreciation of property values.

Investment Opportunities and Potential

Investors considering Grovedale’s real estate market can find promising opportunities, particularly in the single-family home sector. Given the solid growth in house prices and the significant population increase, investing in residential properties may yield favorable returns as demand is likely to persist or even intensify.

The apartment sector also presents potential with its steady growth. Rental properties could be especially lucrative due to the influx of new residents seeking accommodation. With prudent management and strategic location choices, investments in apartments could capitalize on both long-term appreciation and rental income.

Future Market Outlook

The future market outlook for Grovedale remains optimistic. If current trends hold, including the stable incremental growth in property values and ongoing population rise, the real estate market is poised for continued expansion. However, investors and homeowners should stay informed about local economic developments and any changes in interest rates or housing policies that might impact market dynamics.

Moreover, as infrastructure expands to support the growing population, areas around new amenities and transportation routes may see heightened interest, potentially resulting in localized hotspots of accelerated property value growth within Grovedale. Keeping an eye on such developments will be crucial for making informed investment decisions.