Annan, Ontario 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
The real estate market in Annan, Ontario is currently experiencing a period of steady growth. With a median house price sitting at $500,000, the market has seen a year-over-year increase of 3.5%. This growth rate indicates a healthy demand for housing in the area while still providing an accessible entry point for potential homebuyers compared to larger metropolitan markets.
The median apartment price in Annan is currently $300,000, with a more modest year-over-year trend of 2.1%. This slower growth rate suggests that the apartment market is more stable and could be attracting investors who prefer less volatility.
Annan’s population stands at 15,000, with an impressive growth rate of 7.1%. Such demographic expansion supports the ongoing demand for residential properties and bodes well for the local real estate market.
Investment Opportunities and Potential
The consistent growth in property values, coupled with Annan’s increasing population, presents various investment opportunities. The rising median house price reflects a growing interest in single-family homes which could make them highly sought after for both rental and resale purposes.
Apartments exhibit more modest appreciation rates but offer potential for long-term investment given their stability. Investors may find opportunities to cater to smaller households or individuals drawn by Annan’s growing economy and community amenities.
The strong population growth rate also opens doors for developers to meet new housing demands through construction projects. These could range from affordable housing initiatives to more luxurious developments aimed at higher-income brackets.
Future Market Outlook
The future market outlook for Annan, Ontario remains positive. As the population continues to grow, we can anticipate sustained demand for housing across all sectors. The current trends suggest that property values will likely continue their upward trajectory, albeit at a measured pace which should prevent the formation of bubbles or unsustainable price spikes.
The combination of moderate price increases in apartments and stronger appreciation in houses points towards a diversified market where various types of properties can thrive. Should these trends persist, Annan stands to be an attractive location for both living and investing in the years ahead.
In conclusion, careful monitoring of economic indicators and demographic shifts will be crucial in maximizing investment returns in Annan’s real estate market. Staying informed on local policy changes, infrastructural developments, and employment trends will also play a significant role in assessing the future stability and profitability of the region’s property investments.
