Alloa, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $750,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.5% |
Apartment
| Median price | $450,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $600,000 |
| 3 bedrooms | $750,000 |
| 4 bedrooms | $900,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $400,000 |
| 2 bedrooms | $475,000 |
| 3 bedrooms | $550,000 |
Demographics
| Current Population (2025) | 17,000 |
| Previous Population (2020) | 16,000 |
| Population Change | 6.3% |
| Total Private Dwellings | 7,000 |
| Occupied Private Dwellings | 6,500 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 3,000.0 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Alloa, Ontario is currently experiencing a period of moderate growth. The median house price in the area stands at $750,000, with a year-over-year increase of 4%. This indicates a steady climb in property values, reflecting healthy demand for detached homes. Similarly, the median apartment price is $450,000, which has risen by 2.5% over the past year. This somewhat lower growth rate suggests a more cautious but still positive response to multi-family dwellings.
With a population of 17,000 that has seen a significant growth of 6.25%, there is evident pressure on housing demand which could be driving these upward price trends. The growing population likely indicates increased economic activity and an influx of residents seeking employment or lifestyle opportunities in Alloa.
Investment Opportunities and Potential
The current market conditions present various investment opportunities. For investors looking to enter the residential market, single-family homes offer a higher growth potential based on the observed 4% price increase trend. These properties could be attractive rental options or long-term investments for capital gains as the market continues to grow.
Apartments offer a lower entry price point at $450,000 and could cater to new residents or individuals unable to afford higher-priced homes. With a smaller yet consistent appreciation trend of 2.5%, apartments can be good investment vehicles for those seeking steady cash flow and long-term value appreciation.
Given Alloa’s population growth rate, there is potential for continued housing demand. This could incentivize developers and investors to consider new construction projects or the refurbishment of existing properties to meet this increasing demand.
Future Market Outlook
The future outlook for Alloa’s real estate market appears optimistic. Assuming current trends continue, supported by ongoing population growth and economic development, both housing prices and demand are likely to maintain an upward trajectory. However, potential investors should also consider macroeconomic factors such as interest rates, employment rates, and government housing policies that could impact future market conditions.
Analyzing past trends alongside present-day data suggests that Alloa’s real estate market may continue its moderate growth pattern in the short to medium term. Prospective buyers and investors should stay informed on local developments that could affect property values and keep an eye out for changes in consumer behavior that may indicate shifts in the market dynamics.
