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 steady growth. With a median house price of $500,000, the market has seen a 3.5% increase year-over-year. This indicates a healthy demand for homes in the area, likely driven by both local factors and broader provincial trends.
Apartments are also seeing an upward trajectory with a median price of $300,000 and a more modest 2.1% rise year-over-year. The slower growth rate in apartment prices, compared to houses, suggests that there might be slightly less pressure in the multi-family housing market. However, it still points towards overall positive momentum.
The population of Annan stands at approximately 15,000 residents, with a robust population growth of 7.1%. This demographic expansion not only reflects the attractiveness of the area but also contributes to ongoing demand for housing.
Investment Opportunities and Potential
The data suggests that Annan represents a promising landscape for real estate investment. The consistent appreciation in property values offers potential for capital gains over time. Houses seem to be particularly appealing investments due to their higher rate of value increase.
The strong population growth implies that there will be continued demand for housing, which bodes well for investors looking at rental properties or developments. Additionally, as the market is not showing explosive growth rates, there is less risk of an overheated market or bubble formation.
For those interested in commercial real estate, the increasing population could also indicate opportunities for retail spaces, service-oriented businesses, and other commercial ventures that cater to growing residential communities.
Future Market Outlook
The future outlook of the Annan real estate market remains positive. With steady growth patterns and a burgeoning population, demand for housing is expected to sustain or even increase. While current trends suggest ongoing health in the housing sector, investors and homeowners should remain cognizant of external economic factors such as interest rates and employment levels which can influence market dynamics.
Given the solid foundation of growth indicators combined with prudent economic management at both local and provincial levels could see Annan’s real estate market continue on its upward trajectory. Nonetheless, potential investors should conduct thorough due diligence and consider longer-term horizons when evaluating opportunities in this market.
