Alfred, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.4% |
| 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 | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,050 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.8% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Alfred, Ontario is currently characterized by steady growth. The median house price stands at $525,000, which marks a year-over-year increase of 4.2%. This consistent rise in housing prices indicates a healthy demand for residential properties in the area. Similarly, the apartment sector exhibits positive momentum with the median apartment price at $315,000 and experiencing a 2.5% year-over-year uptrend.
This ongoing appreciation in property values is further supported by the area’s population growth rate of 3.8%, suggesting that Alfred is attracting new residents at a robust pace. This influx can be attributed to various factors including its economic opportunities, quality of life, and attractive residential options for both owners and renters.
Investment Opportunities and Potential
The current trends offer promising investment opportunities within Alfred’s real estate market. Investors considering the area will find potential in both the single-family home sector and the apartment market. With house prices outpacing apartments in terms of growth rates, investors might see greater capital appreciation in purchasing residential homes.
Apartments, on the other hand, due to their lower entry price point at $315,000, could provide an accessible way for investors to tap into the rental market, which may benefit from the increasing population and demand for housing. Given the steady population increase, rental properties could enjoy low vacancy rates and stable rental incomes.
In assessing investment potential, it is crucial to consider local economic conditions, development projects underway or planned for the area, and demographic trends that could affect future demands for housing.
Future Market Outlook
The future market outlook for Alfred appears optimistic based on current data. Assuming that the positive economic and demographic trends continue, we can anticipate further growth in property values. The sustained population increase of 3.8%, if maintained, should continue to fuel demand for housing.
However, potential investors should also remain vigilant regarding broader economic indicators such as interest rates, employment rates in surrounding areas, and any changes in municipal or provincial policies affecting property ownership or land development that could impact future market conditions.
Given these factors, while short-term fluctuations are always possible, Alfred’s real estate market shows promising signs for continued growth over the medium to long term.
