Hartell, 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 (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
In Hartell, Alberta, the real estate market is currently experiencing a period of steady growth. The median house price stands at $500,000, which marks a healthy year-over-year increase of 3.5%. This trend indicates a strong demand for houses in the area, potentially driven by favorable economic conditions and demographic factors.
On the other hand, the median apartment price has been set at $300,000, with a slightly lower year-over-year appreciation rate of 2.1%. This suggests that while apartments are also increasing in value, there may be a larger demand for single-family homes or that apartments are increasing in supply, leading to smaller price increases.
The population of Hartell has shown an impressive growth rate of 7.1%, bringing the total to approximately 15,000 residents. This rapid increase in population is likely contributing to the demand for housing and can be a driving factor behind the observed market trends.
Investment Opportunities and Potential
The consistent upward trend in property values in Hartell presents attractive investment opportunities. The solid growth rate in house prices indicates a robust market where investments can yield substantial returns over time. Given that the population continues to grow at a notable rate, demand for residential properties is expected to remain high or even increase.
Investors should consider both single-family homes and apartments when exploring opportunities in Hartell. While houses show stronger price growth, apartments could represent an opportunity for investors looking for more affordable entry points into the market or to cater to segments of the population that prefer multi-family living arrangements.
Future Market Outlook
The future outlook for Hartell’s real estate market remains optimistic. If current trends continue, such as population growth and economic stability, we can expect both home and apartment values to maintain their gradual rise. However, it will be important for investors and stakeholders to monitor potential factors that could affect this trajectory including changes in interest rates, local employment opportunities, and government housing policies.
The influx of new residents suggests sustained or increased demand for housing which bodes well for property owners and developers. Strategic investments made now could benefit from long-term appreciation as Hartell’s real estate market progresses along its positive trend.
