Altona, 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 Altona, Ontario is currently experiencing moderate growth. The median house price stands at $500,000, reflecting a steady appreciation with a year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes in the area. Similarly, the median apartment price is $300,000, which has risen by 2.1% over the past year. This slower growth rate in comparison to houses suggests that the market for apartments is less competitive, potentially due to a higher demand for single-family homes among Altona’s residents.
The population of Altona has recently reached 15,000 individuals, showcasing a significant growth rate of 7.1%. This population increase is likely contributing to the sustained demand for housing in the region and may be indicative of an influx of new residents seeking employment opportunities or attracted by other local amenities.
Investment Opportunities and Potential
The steady rise in property prices coupled with strong population growth presents a promising landscape for investment opportunities in Altona’s real estate market. Investors can capitalize on the growing demand for housing by acquiring properties that will likely appreciate over time. Single-family homes represent a particularly attractive option given their stronger price trend.
Additionally, rental properties may offer lucrative returns due to the increasing population. With more people moving into the area, there is potential for higher rental occupancy rates and yields. Investors should consider both long-term capital gains from property appreciation and short-term income from rentals when evaluating their investment strategies.
Future Market Outlook
The outlook for Altona’s real estate market remains optimistic. The consistent population growth should continue to drive demand for both buying and renting properties. Assuming no major economic disruptions occur, the current trends suggest that property prices will continue to rise at a measured pace.
New infrastructure developments or improvements in local amenities could further enhance property values and investment potential. However, investors should also monitor factors such as interest rates, employment rates, and regional economic policies which could impact the market dynamics.
In conclusion, Altona’s real estate market exhibits stability and growth prospects that are attractive to both homeowners and investors. Careful consideration of macroeconomic factors and continued monitoring of local trends will be essential for making informed investment decisions in this community.
