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 (2024) | 15,000 |
| Previous Population (2019) | 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 experiencing steady growth. With a median house price sitting at $500,000, the market has witnessed a year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes and a competitive market environment. The apartment sector is also showing positive momentum, with the median apartment price reaching $300,000 and growing at a more modest rate of 2.1% year-over-year.
The population of Alton stands at 15,000 and has seen substantial growth of 7.1%, signalling an influx of new residents and potential homebuyers. This demographic shift is likely contributing to the sustained demand for housing in the area.
Investment Opportunities and Potential
Given the consistent appreciation in property values, Alton presents attractive investment opportunities. Investors can capitalize on the upward trend in both the house and apartment markets. The solid growth in median house prices suggests that investing in residential properties could yield significant returns over time.
Apartments represent a more accessible entry point for investors due to their lower median price compared to houses. The steady growth in apartment prices points towards a reliable investment option that caters to a segment of the population seeking more affordable housing or rental accommodations.
The robust population growth not only fuels housing demand but also implies potential for rental market expansion, offering additional avenues for real estate investors looking for long-term income-generating assets.
Future Market Outlook
The future market outlook for Alton is optimistic. With current trends indicating sustained growth in property values and a strong population increase, it is likely that the demand for both ownership and rental properties will continue to rise. However, as with any real estate market, external economic factors such as interest rates, employment rates, and government housing policies can impact future performance.
Assuming stable economic conditions persist, investors and homebuyers can anticipate continued appreciation in property values. Nonetheless, prospective buyers should conduct thorough market research and consider professional financial advice before making significant real estate decisions.
