Alloa, 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 Alloa, Ontario continues to show signs of steady growth. With a median house price currently at $500,000, the market has experienced a year-over-year increase of 3.5%. This consistent growth suggests a healthy demand for residential properties in the area.
Apartments are also following an upward trend but at a slightly more modest pace. The median apartment price stands at $300,000, with a year-over-year increase of 2.1%. This could indicate a robust market for smaller residential units, possibly driven by first-time homebuyers or individuals looking for more affordable housing options.
The population growth of 7.1% is a critical driver for real estate demand in Alloa. As the population rises to approximately 15,000 residents, the increased demand is likely to apply upward pressure on both property prices and rental rates.
Investment Opportunities and Potential
Given the solid growth trends and increasing population, Alloa presents attractive investment opportunities. Investors should consider the steady appreciation of house prices as an indicator of potential long-term capital gains. Diverse housing stock may offer various investment options ranging from detached homes to multifamily apartments.
The less aggressive growth rate in apartment prices compared to houses may create an entry point for investors looking to capitalize on affordable units that appeal to a growing segment of the market. Furthermore, with the population increasing rapidly, rental properties are likely to be in high demand, potentially yielding sustainable rental income streams for investors.
Future Market Outlook
The future real estate market outlook for Alloa looks promising due to several factors including ongoing population growth and stable economic conditions. Should these trends persist, we can anticipate continued appreciation in property values. The consistent rise in home prices reflects confidence in the local economy and suggests that Alloa will remain an attractive location for both living and investing.
However, it’s important for prospective investors and homeowners to monitor local developments closely. Factors such as interest rates, employment rates, and infrastructure projects can significantly influence market dynamics. Staying informed will be key to making sound real estate decisions in Alloa’s evolving market landscape.
