Finnegan, Alberta 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 Finnegan, Alberta, is currently experiencing steady growth. The median house price sits at $500,000, which is a 3.5% increase year-over-year. This suggests that the housing market is keeping pace with general economic growth trends and reflects a stable investment for homeowners and real estate investors alike.
Similarly, the median apartment price has seen a more modest increase of 2.1% year-over-year, bringing the price to $300,000. This slower growth rate compared to houses may indicate a higher demand for single-family homes or could suggest that apartments are becoming a more accessible entry point into the real estate market for first-time buyers or investors.
The local population has seen a significant increase of 7.1%, now totaling 15,000 residents. This influx of new residents is likely contributing to the demand for both houses and apartments in the area.
Investment Opportunities and Potential
The current trends in Finnegan’s real estate market offer various opportunities for investors. The consistent rise in property values indicates that purchasing real estate in Finnegan can be a sound long-term investment. Given the median house price growth of 3.5%, investors can expect continued appreciation in the value of single-family homes.
Apartments, while growing at a slower pace, present an opportunity for rental investment strategies due to the increasing population. Their lower price point also makes them an attractive option for those looking to enter the property market without committing to a higher-priced single-family home.
The town’s rising population bodes well for both rental and resale markets as demand for housing should remain strong, potentially driving up rental yields and resale values over time.
Future Market Outlook
The future outlook for Finnegan’s real estate market appears positive. With a strong population growth rate of 7.1%, there will likely be sustained demand for housing which may continue to push prices upward. If current trends persist, both house and apartment prices could see further incremental increases.
Economic indicators such as job growth, infrastructure development, and local policies supporting housing development will play crucial roles in shaping this future trajectory. Investors and homeowners should monitor these factors closely as they can greatly influence market dynamics and investment returns.
In conclusion, Finnegan’s real estate market shows promising signs of stability and growth. With thoughtful consideration of local trends and wider economic indicators, investors can make informed decisions within this vibrant Alberta community.
