Finnegan, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Finnegan, Alberta, is currently experiencing a steady growth pattern. With a median house price of $485,000, which represents a 3% year-over-year increase, the market is showing resilience and moderate appreciation. Similarly, the median apartment price stands at $295,000, with a slightly lower but still positive trend of 2.5% year-over-year growth. These figures suggest a healthy market that is moving upward at a sustainable pace.
The population of Finnegan has grown by 2.7%, indicating an increasing demand for housing. This demographic trend further supports the stable rise in property values and points to an active local economy that could sustain future real estate investments.
Investment Opportunities and Potential
Finnegan’s real estate market presents several attractive investment opportunities. Given the steady increase in property values, investors can expect to see continued appreciation in both the residential and apartment sectors. The growth in population suggests that rental properties may also be a viable investment as more individuals and families move into the area seeking accommodation.
With housing prices still below major metropolitan areas, Finnegan offers potential for investors looking for more affordable entry points into the real estate market. Furthermore, the positive trends in both segments of the market (houses and apartments) indicate that investments are likely to benefit from capital gains over the medium to long term.
Future Market Outlook
The future outlook for Finnegan’s real estate market remains optimistic. The consistent population growth paired with economic stability provides a foundation for ongoing demand for housing. Assuming no major economic disruptions occur, we can anticipate that the current trends of gradual price increases will persist. This bodes well for both homeowners looking to build equity and investors seeking reliable assets.
The modest yet steady appreciation rates suggest that the local market is less susceptible to the volatility seen in larger urban centers, offering a more predictable environment for investment decisions. As long as the population continues to rise and economic conditions remain favorable, Finnegan’s real estate market should maintain its course of careful growth.
