Almira, 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 Almira, Ontario, is currently experiencing moderate growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This indicates a steady appreciation in property values, reflecting a healthy demand for housing in the area. Meanwhile, the median apartment price is $300,000, having risen by 2.1% over the past year. The more modest growth rate in the apartment sector suggests a slightly softer market compared to houses, but still points towards overall positive momentum.
Investment Opportunities and Potential
With a significant population growth of 7.1%, Almira is likely to see continued demand for housing. This presents an attractive opportunity for investors considering both immediate rental income and long-term capital gains. The strong and steady growth in house prices may appeal to investors looking for single-family homes as investment properties, while the apartment sector offers potential for those interested in catering to individuals or smaller households who might prefer more affordable or lower-maintenance living options.
Future Market Outlook
The future outlook for Almira’s real estate market remains promising, given the solid population increase and consistent property value appreciation. If these trends persist, investors can reasonably expect ongoing demand and potentially rising property values. This outlook should be tempered with consideration for broader economic conditions and any local developments that could impact the market. Nonetheless, the current data suggests that Almira’s real estate market has strong fundamentals which are likely to support continued growth.