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
The real estate market in Hartell, Alberta is currently experiencing steady growth. The median house price in the area is $500,000, with a year-over-year increase of 3.5%. This trend suggests a healthy demand for houses in the region, reflecting a stable and growing real estate environment. Similarly, the median apartment price has been noted at $300,000, with a slower yet positive year-over-year trend of 2.1%. This contrast in growth rates may indicate a higher demand for single-family homes as compared to apartments.
With a population of 15,000 and an impressive population growth rate of 7.1%, Hartell is likely experiencing economic expansion and an influx of new residents seeking housing. This demographic shift could be contributing to the upward pressure on home values and rental prices.
Investment Opportunities and Potential
The current market dynamics present several promising investment opportunities in Hartell. The consistent rise in property values suggests that purchasing residential real estate could yield substantial capital gains over time. Investors might find particular potential in single-family homes due to their higher appreciation rate relative to apartments.
The strong population growth rate also indicates potential for rental property investments as newcomers will be looking for places to live. Given the trends, both long-term property holds and development projects could be lucrative given careful market analysis and strategic location selection within Hartell.
Future Market Outlook
The future real estate market outlook for Hartell appears optimistic. If the current trends continue, the region can expect ongoing appreciation in property values. The robust population growth serves as a solid foundation for sustained demand in housing, which should keep driving the local real estate market forward.
Developers and investors should monitor infrastructure developments and employment opportunities within Hartell, as these factors will also play a significant role in shaping the future market conditions. Notably, if economic drivers are introduced or expanded upon — such as new industries or commercial investments — Hartell’s real estate market could experience even greater growth rates.
In conclusion, careful monitoring of economic indicators alongside demographic trends will be key for those looking to capitalize on Hartell’s real estate market potential.
