Alfred, Ontario 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 (2025) | 15,000 |
| Previous Population (2020) | 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 Alfred, Ontario is currently experiencing a steady climb in property values. With a median house price of $500,000 and an annual price increase of 3.5%, the market demonstrates consistent growth. Similarly, the median apartment price stands at $300,000, following a slower but positive year-over-year trend of 2.1%. These statistics reflect a healthy demand for housing in the area.
The population of Alfred has reached 15,000 and is on the rise with a significant growth rate of 7.1%, suggesting a burgeoning community that could drive further demand in the housing market. The current trends indicate a seller’s market where inventory may struggle to keep up with demand, leading to potential upward pressure on prices over time.
Investment Opportunities and Potential
Given the steady growth in property values and the increasing population, Alfred presents notable investment opportunities. Investors looking to enter the residential market can find potential in both single-family homes and apartment units, as both are appreciating assets in this current climate.
The consistent increase in house prices implies that purchasing residential properties could yield capital gains in the medium to long term. Moreover, the expanding local population suggests a potential for rental investments to meet the needs of residents who prefer not to buy immediately or cannot afford homeownership due to rising prices.
It is also worth noting that any new development projects designed to meet growing housing demands could benefit from relatively quick absorption rates given the population growth and limited supply. Strategic investments in areas poised for infrastructure improvements or community development could capitalize on increased future value.
Future Market Outlook
The future outlook for Alfred’s real estate market remains optimistic based on current trends and demographic factors. Assuming no major economic disruptions occur, the steady rise in house and apartment prices is likely to continue alongside the population increase.
The 7.1% growth rate in population is particularly influential as it signals sustained demand for housing which could support higher property values over time. This demographic trend alone affords Alfred a positive long-term outlook for real estate investment.
In conclusion, investors should monitor local developments closely as these will play a critical role in shaping future market conditions. Factors such as interest rates, employment levels, and government policies related to housing will also influence market dynamics moving forward.
