Alton, 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 Alton, Ontario is currently characterized by steady growth. With a median house price of $500,000 and an upward trend of 3.5% year-over-year, the market indicates a stable appreciation in property values. Similarly, apartments show a positive trajectory with a median price point of $300,000 and an annual increase of 2.1%. This growth can be attributed to the town’s expanding population, which has risen by 7.1%, suggesting a growing demand for housing.
Demand for housing in Alton has remained robust as reflected in the consistent increase in property prices. The current trends suggest that the market is healthy and properties are retaining their value.
Investment Opportunities and Potential
Given Alton’s population growth and steady price appreciation, there are promising investment opportunities for both residential properties and rental units. The rising median house and apartment prices indicate that purchasing real estate for long-term investment could yield substantial returns as the market continues to grow.
Investors looking to capitalize on rental income may find apartments particularly attractive due to their lower entry price point at $300,000 and consistent appreciation rate of 2.1% per annum. The influx of new residents could drive demand for rental properties, potentially leading to favorable rental yields.
Additionally, the stable year-over-year growth rates suggest that investments in Alton are less speculative and more grounded in organic growth, making it an appealing option for investors seeking sustainable gains.
Future Market Outlook
The future outlook for Alton’s real estate market remains optimistic based on current trends and demographic shifts. Continued population growth at a rate of 7.1% is likely to sustain demand for housing, both in terms of ownership and rentals. If these trends persist, one can expect ongoing appreciation in property values across both houses and apartments.
However, investors and homebuyers should monitor economic indicators such as employment rates, interest rates, and overall economic health as these factors can significantly impact the real estate market dynamics.
In conclusion, with its current upward trajectory coupled with strong population growth figures, Alton presents itself as an attractive locale for both homebuyers looking to settle in a growing community and investors seeking stable real estate opportunities.