Hanna, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 0.6% |
Apartment
| Median price | $290,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,500 |
| Population Change | 3.4% |
| 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 Hanna, Alberta is currently experiencing a period of steady growth. With the median house price standing at $485,000, there has been a modest year-over-year increase of 2.5%. This indicates a stable market with moderate appreciation in property values. Similarly, the apartment sector is also seeing positive trends with a median price of $290,000 and an annual appreciation rate of 2.8%. These consistent growth rates suggest a balanced market that is neither overheating nor underperforming.
The population of Hanna has reached approximately 15,000 residents and is growing at a healthy pace of 3.4% per annum. This demographic trend contributes to the underlying demand for housing in the area and helps to sustain property value increases.
Investment Opportunities and Potential
Given the steady growth in both housing prices and population, Hanna offers viable investment opportunities for real estate investors. The relatively affordable median prices for houses and apartments make it an accessible market for those looking to enter the property investment space or expand their portfolios.
The consistent appreciation in housing values suggests that investments are likely to offer returns through capital gains over time. Moreover, the growing population may lead to increased rental demand, potentially providing investors with steady rental income streams. Investors should consider both long-term rental strategies as well as potential opportunities in short-term or vacation rentals, depending on the location within Hanna and proximity to local attractions or amenities.
Future Market Outlook
The future outlook for Hanna’s real estate market appears promising based on current trends and data. Assuming the continuation of current economic conditions, population growth patterns, and interest rates, the market is expected to maintain its steady course of growth.
Investors and homebuyers can be moderately optimistic about entering the market at this time. However, they should remain aware of broader economic indicators that could affect local market conditions such as employment rates in key industries within Hanna and surrounding areas or changes in mortgage lending practices.
To sum up, Hanna’s real estate market presents a favorable environment for both homeownership and investment purposes. With careful analysis of specific properties and ongoing monitoring of economic factors, stakeholders can make informed decisions to capitalize on opportunities within this Alberta community.
