Alban, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Alban, Ontario is currently experiencing a period of steady growth. With a median house price of $520,000, the market has seen a year-over-year increase of 4%. This trend suggests a consistent demand for housing in the area. In contrast, the apartment sector shows a more modest rise with a median price of $310,000 and an annual appreciation rate of 1.9%. This difference in growth rates between houses and apartments may indicate a stronger preference for single-family homes or potential saturation in the apartment market.
Investment Opportunities and Potential
The investment landscape in Alban is promising due to its positive population growth rate of 3.3%. This demographic trend presents opportunities for investors looking to cater to the increasing housing demand. Given that the overall market is trending upwards, albeit at different paces for houses and apartments, short-term investors might focus on houses for higher capital gains while long-term investors could consider apartments as they offer potential for rental income stability.
Future Market Outlook
Looking ahead, the Alban real estate market appears poised for sustained growth. The persistent population increase will likely continue to drive demand for both ownership and rental properties. However, investors should monitor economic indicators such as employment rates and regional development plans, which could affect market dynamics. Based on current data, it’s reasonable to expect that house prices may continue to rise at or above current rates while apartment prices could see gradual appreciation if demand keeps pace with supply.
