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 in Almira, Ontario
The real estate market in Almira, Ontario, shows a steady growth trajectory with the median house price currently standing at $500,000, marking a year-over-year increase of 3.5%. This consistent upward trend indicates a healthy demand for housing in the region. Similarly, the median apartment price is at $300,000 with a more modest year-over-year appreciation of 2.1%. This slower rate of increase for apartments suggests a different demand dynamic when compared to houses.
The population of Almira has experienced significant growth with a surge of 7.1%, raising the number of residents to approximately 15,000. This demographic expansion has likely contributed to the increasing demand for housing and the overall positive sentiment in the local real estate market.
Investment Opportunities and Potential in Almira, Ontario
The growth indicators present interesting investment opportunities in Almira’s real estate market. The consistent rise in house prices suggests that purchasing residential property could yield considerable returns over time. Investment in single-family homes appears particularly promising due to their higher appreciation rate compared to apartments.
Apartments offer their own set of investment advantages, especially for those looking for lower entry points into the property market or wishing to cater to individuals who prefer more affordable housing options. Given the population growth and sustained demand, rental properties could provide stable cash flow to investors while also benefiting from moderate capital appreciation.
Future Market Outlook for Almira, Ontario
The future market outlook for Almira remains optimistic based on current trends and data. Population growth is anticipated to continue as more people seek the lifestyle and opportunities available in Almira. Investment in infrastructure and community amenities is expected to keep pace with this growth, further enhancing the area’s appeal.
The historical data implies that property values will likely maintain an upward trend, albeit fluctuations are always possible due to broader economic factors affecting national and provincial real estate markets. Stakeholders should remain vigilant but confident about long-term growth prospects in Almira’s real estate landscape.