Alcona, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
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 Alcona, Ontario, is currently experiencing a period of growth. With the median house price standing at $525,000, there has been a 4.2% year-over-year increase. This indicates a healthy demand for housing and a competitive market environment. In contrast, apartments in Alcona have seen a more modest increase in value, with the median price at $315,000 and a 2.5% year-over-year trend.
The population of Alcona has reached approximately 15,500 residents, with a significant growth rate of 3.3%. This demographic trend suggests that the area is attracting new residents, likely due to its amenities, quality of life, and employment opportunities. The influx of new residents may be contributing to the increasing demand for housing and could be an indicator of continued market strength.
Investment Opportunities and Potential
The current trends in Alcona’s real estate market present several investment opportunities. The steady growth in house prices suggests that purchasing residential properties could yield solid returns over time. Investors may find single-family homes particularly attractive given their higher appreciation rate compared to apartments.
The ongoing population growth also presents potential for rental investments as newcomers may initially seek rental accommodations before purchasing homes. This could lead to an increased demand for rental properties, making multi-family units or apartment buildings potentially lucrative investments.
Future Market Outlook
The future market outlook for Alcona remains positive based on current trends and data. Should the population continue to grow at the current or an accelerated rate, demand for housing is likely to remain strong or even increase. This demographic pressure could drive further price appreciation for both houses and apartments.
However, investors should remain aware of broader economic conditions that might impact interest rates, employment levels, and overall affordability—factors that can influence the real estate market significantly. Monitoring these external elements will be crucial for making informed investment decisions in Alcona’s dynamic real estate landscape.
