Why is the Anna Real Estate Market Booming?

Population Growth

Anna has seen tremendous population growth over the past few years, surging by 17% in the past year alone. With a current population exceeding 27,000 residents, the city is projected to grow to 100,000 by 2050. This rapid increase in population is fueling demand for housing, making Anna a hotspot for both new home construction and resale properties.

Continued Job Growth and Economic Development

Anna benefits from its proximity to major employment hubs in the DFW metroplex, such as Plano, McKinney, and Frisco, while also seeing job growth within the city itself. Anna’s economic development initiatives have attracted major retailers like Home Depot, Starbucks, and Texas Roadhouse. Additionally, the city secured a $40 million investment with the recruitment of Holt Cat, a leading construction equipment company.

These developments, along with Anna’s ranking as one of the top four fastest-growing cities in the U.S. for cities over 20,000 residents, are driving both job creation and housing demand.

Real Estate Development

Significant residential projects are transforming Anna’s housing landscape. Developments like The Woods at Lindsey Place, The Villages of Hurricane Creek, Meadow Vista, and Crystal Park represent over $1.8 billion in projected value at full buildout. One of the standout projects, the AnaCapri development, is set to feature 1,300 single-family lots, 600 multifamily units, and a commercial sector anchored by a crystal lagoon, with a total value of over $800 million.

Currently, there are over 3,000 multifamily units under development, collectively valued at $800 million, ensuring that housing options in Anna will continue to expand for years to come.

Housing Market and Affordability

Anna’s real estate market remains relatively affordable compared to other North Texas cities. The median home list price in Anna as of October 2024 is $390,342, with a median price per square foot of $192. While prices have appreciated, Anna still offers buyers more value for their money compared to neighboring areas like Plano or Frisco.

As of September 2024, there are 308 homes for sale in Anna, a 1.3% increase from the previous month, indicating a strong market with steady demand. Buyers can still find attractive deals in Anna, with the median price for three-bedroom homes at $352,900, and for four-bedroom homes at $409,500.

Suburban Appeal and Quality of Life

With more people embracing remote work, Anna’s quiet suburban charm has become even more appealing. Families and professionals seeking more space, quality schools, and a high quality of life are flocking to Anna. The city offers a peaceful atmosphere while maintaining convenient access to urban amenities in nearby cities.

Anna’s community-oriented lifestyle, combined with its parks, recreational facilities, and family-friendly events, is another draw for homebuyers looking for more than just a place to live.

Lower Tax Burden

Anna, like the rest of Texas, benefits from the lack of a state income tax, which makes it a highly attractive destination for families and businesses relocating from higher-tax states like California and New York. Even with property taxes considered, Anna offers a comparatively low tax burden, making it easier for residents to enjoy a comfortable lifestyle while keeping more of their income.

Real Estate Activity

Homes in Anna are moving quickly, with the average days on market in September 2024 down by 45.1% compared to the previous year, sitting at just 83 days. This reduction reflects the heightened demand for homes in the area. The housing inventory by bedroom type includes 106 three-bedroom homes, 152 four-bedroom homes, and 47 homes with five or more bedrooms, showing a variety of options for buyers.