Alma, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $310,000 |
| Monthly growth | 0.8% |
| 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 | $625,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 15,000 |
| Population Change | 1.3% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Alma, Ontario, is currently experiencing stable growth. With a median house price of $525,000 and a positive year-over-year trend of 4%, the market indicates healthy demand. Similarly, the median apartment price stands at $310,000, with a more modest appreciation of 2.5% year-over-year. This growth can be partially attributed to Alma’s increasing population, which has risen by 1.33%, suggesting that the town is attracting new residents and potentially impacting demand for housing.
Investment Opportunities and Potential
The consistent growth in property values indicates that Alma presents viable investment opportunities for both residential houses and apartments. The steady appreciation rate provides investors with confidence in the potential for capital gains over time. Furthermore, the town’s population increase suggests that rental properties may also offer attractive returns as demand for housing could rise with the influx of new residents.
Given the current trends, investors might find it beneficial to enter the market sooner rather than later to capitalize on future price escalations. It is also worth considering developments within different neighborhoods in Alma, as some areas may offer higher investment potential due to location advantages or planned infrastructure improvements.
Future Market Outlook
The outlook for Alma’s real estate market remains optimistic. Assuming that current economic conditions persist and with a continual influx of residents, it is reasonable to expect that property prices may continue to rise at a measured pace. However, investors should keep an eye on factors such as interest rates, local employment rates, and regional economic policies—any of which could affect market dynamics.
In summary, while forecasting real estate markets always comes with a degree of uncertainty, the data suggests that Alma’s market has strong fundamentals supporting gradual growth. This provides a positive environment for both homebuyers looking to settle in the area and investors seeking long-term capital growth or rental income opportunities.
