Gunn, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $490,000 |
Monthly growth | 1.1% |
Quarterly trend | 3.0% |
Stock on market | 0.9% |
Apartment
Median price | $310,000 |
Monthly growth | 0.8% |
Quarterly trend | 1.5% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $490,000 |
4 bedrooms | $590,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $260,000 |
2 bedrooms | $360,000 |
3 bedrooms | $460,000 |
Demographics
Current Population (2025) | 15,500 |
Previous Population (2020) | 15,000 |
Population Change | 3.3% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,700 |
Population Density (per km²) | 1.5 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Gunn, Alberta currently presents a stable environment with the median house price sitting at $490,000, reflecting a modest year-over-year increase of 3%. This steady growth indicates a healthy demand for housing in the area. The median apartment price is also on an upward trajectory, albeit at a slower pace, with a 1.5% year-over-year increase to $310,000. These consistent price trends suggest a balanced market that is neither overheated nor experiencing a downturn.
The local population has seen a significant growth rate of 3.3%, which is likely contributing to the sustained demand for housing. This population growth can be attributed to various factors such as economic opportunities, quality of life, and the area’s attractiveness to new residents. As the population increases, the demand for both rental and owner-occupied housing is expected to continue, which may lead to tighter market conditions if supply doesn’t keep pace.
Investment Opportunities and Potential
Given the current market conditions and demographic trends in Gunn, Alberta, there are several investment opportunities for those looking to enter the real estate market or expand their portfolio. The steady growth in property values indicates that investments in residential properties are likely to appreciate over time. Single-family homes, given their higher median price and growth rate compared to apartments, present an opportunity for higher capital gains.
Additionally, with the population increasing at a robust rate of 3.3%, there is potential for investors interested in the rental market. Demand for apartments and other multi-family housing units may rise as more people move into the area seeking affordable housing options. The slower growth rate of apartment prices suggests that there may be room for rental yields to grow without being outpaced by property value increases.
Future Market Outlook
The future outlook for Gunn’s real estate market remains optimistic. The consistent rise in property values coupled with substantial population growth positions Gunn as an attractive location for both residential living and investment purposes. If these trends continue along their current trajectory, it is reasonable to expect that property values will keep increasing steadily over the forthcoming years.
In the long term, as the area becomes more developed and potentially attracts further commercial investment, this could enhance the local economy and further boost housing demand. Prospective investors should monitor infrastructure developments and municipal planning initiatives closely as these factors could significantly impact future property values and market dynamics.
As always, it’s important for investors to conduct thorough due diligence and consider local market fluctuations when making investment decisions. Keeping an eye on interest rates, employment figures, and national economic indicators will also provide valuable context for evaluating the sustainability of current trends in Gunn’s real estate market.