Alma, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| 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 | $420,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $630,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Alma, Ontario, the real estate market is currently experiencing steady growth. With a median house price of $525,000 and a year-over-year increase of 4%, the housing market demonstrates resilience and a positive trajectory. Similarly, apartments in Alma have seen growth with the median price sitting at $315,000 and a trend of a 2.5% increase year-over-year. These figures indicate healthy demand in the region’s property market.
The population in Alma has also been on the rise with a growth rate of 2.7%, suggesting an increasing demand for housing. This influx of residents can be attributed to various factors including employment opportunities, lifestyle preferences, and the town’s amenities attracting new residents.
Investment Opportunities and Potential
Alma’s ongoing population growth coupled with its escalating property values presents attractive investment opportunities. Investors looking to enter the Alma real estate market may find potential in both the residential housing sector and apartment complexes. The consistent increase in property values suggests that investments made now could see substantial appreciation over time.
Given the current trends, rental properties could also be a lucrative avenue as the growing population may result in higher demand for rental units. This is particularly pertinent for investors targeting demographics that prefer renting over homeownership, such as young professionals or smaller households.
Future Market Outlook
The future outlook for Alma’s real estate market remains optimistic. Population growth is expected to continue serving as a key driver for housing demand which should sustain property value increases in both houses and apartments. The steady upward trend in house prices indicates that the market has room for further expansion.
Alma’s real estate market may also benefit from broader economic trends such as job creation and infrastructure development within the region that can contribute to its appeal as a place to live and invest in. However, investors should continue to monitor economic indicators and local developments as these factors will influence future market performance.
In conclusion, Alma’s real estate market is showing positive signs for both current stability and future growth, offering promising opportunities for investors willing to capitalize on its upward trends.
