Alban, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $430,000 |
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) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Alban, Ontario currently presents a stable growth environment, with the median house price sitting at $485,000, showing a steady year-over-year increase of 3.2%. This increment is reflective of a healthy demand in the housing sector within the region. Meanwhile, the median apartment price is reported to be $295,000, with a slightly lower year-over-year growth of 2.5%. The discrepancy in growth rates between houses and apartments may indicate a stronger preference or demand for single-family homes.
The population of Alban has experienced significant growth, increasing by 3.3%, which is likely contributing to the upward pressure on property values due to increased demand. With a current population of 15,500, the community’s growing demographic could be an indicator of sustained interest in both residential and rental markets.
Investment Opportunities and Potential
The investment landscape in Alban offers promising opportunities, particularly in the housing market. Given the steady appreciation of house prices, investors could benefit from capital gains over time. The apartment sector’s slower growth rate may suggest a potential gap in the market for high-quality or strategically located apartment developments that could appeal to certain segments of the population such as young professionals or smaller families looking for more affordable housing options.
With continuous population growth, there is also potential for rental investments to yield favorable returns as demand for housing increases. Investors looking to diversify may find this an opportune time to enter the market or expand their portfolios within Alban’s boundaries.
Future Market Outlook
The future market outlook for Alban appears optimistic. Population growth is typically a strong driver of real estate demand, and with the region experiencing a robust rate of 3.3%, it is reasonable to project that the housing market will continue to flourish. Assuming economic conditions remain favorable and no significant changes disrupt the local economy’s stability, both residential property values and rent rates are likely to maintain an upward trajectory.
Careful monitoring of local development plans and infrastructure improvements will be crucial for predicting nuanced shifts in desirability within different areas of Alban. As such, stakeholders should keep an informed eye on municipal decisions that can impact future property values.
Analyzing historical data alongside current growth patterns suggests that Alban’s real estate market holds potential for both short-term gains through flipping or renting properties as well as long-term investment strategies relying on property value appreciation.
