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 stable growth. With the median house price sitting at $500,000 and demonstrating a year-over-year increase of 3.5%, the market reflects healthy demand. Similarly, apartments are following an upward trend, albeit at a slower pace, with the median price at $300,000 and a year-over-year growth of 2.1%. The consistent growth in property values is indicative of a robust market that benefits from both homeowner occupation and investment interest.
Investment Opportunities and Potential
The Grumbler real estate market presents several opportunities for investors. The steady increase in property values suggests that investments in residential real estate could yield positive returns over time. Moreover, the significant population growth rate of 7.1% points to increased future demand for housing. This demographic trend can potentially lead to greater rental demand, thus benefiting landlords and real estate investors looking for cash flow as well as appreciation.
Future Market Outlook
The outlook for the Grumbler real estate market appears promising. The combination of solid population growth and consistent property value increases provides a strong foundation for sustained market health. Assuming no major economic disruptions, these trends are likely to continue, making Grumbler an attractive destination for both homebuyers and investors alike. Prospective investors should monitor local developments closely to capitalize on emerging opportunities within this dynamic market.
