Grumbler, Northwest Territories 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
Current Market Conditions and Trends
The real estate market in Grumbler, Northwest Territories is currently experiencing a period of steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This suggests a healthy demand for housing in the area, coupled with a willingness amongst buyers to invest at these price points. Similarly, apartments in Grumbler are also trending upwards, albeit at a slightly slower pace, with the median apartment price reaching $300,000 and an annual appreciation rate of 2.1%.
The population growth of 7.1% is a significant factor driving these market conditions. As more people move into the area, demand for housing rises which, in turn, pushes property values upward. The current trends indicate a robust market that is likely to sustain its momentum in the short term.
Investment Opportunities and Potential
Investment opportunities in Grumbler appear promising, especially for those looking to capitalize on the region’s population growth. The steady rise in house and apartment prices points to strong capital gains potential for real estate investors. Given that the population growth rate is substantially higher than many other Canadian locales, there is potential for both rental and resale markets to flourish.
For investors targeting rental income, the influx of new residents may translate to higher occupancy rates and potentially higher rental prices. On the flip side, developers and those investing in residential construction will find opportunities in addressing the housing needs of an expanding population.
Future Market Outlook
The future outlook for Grumbler’s real estate market remains optimistic. Continued population growth will likely maintain pressure on housing demand, supporting further price increases barring any unforeseen economic shifts or policy changes that could affect market dynamics.
Investors should monitor factors such as employment rates, infrastructure developments, and regional economic policies that can impact the real estate market’s trajectory. Additionally, as environmental concerns grow globally, Grumbler’s real estate sector might also see shifts towards sustainable building practices and green living spaces which could influence future market trends.
