Addison, 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
1. Current Market Conditions and Trends
The real estate market in Addison, Ontario is currently characterized by moderate growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This indicates a steady but sustainable appreciation in property values, reflecting a healthy market that is not overheating.
The apartment sector shows a more modest growth trend, with the median apartment price at $300,000 and an annual growth rate of 2.1%. This slower pace compared to houses suggests that the apartment market might be more accessible for first-time buyers and investors looking for lower entry points into the real estate market.
With a population of 15,000 and a robust growth rate of 7.1%, Addison is experiencing demographic expansion that could drive demand for housing over time. The current trends suggest a balanced market where supply and demand are growing proportionally.
2. Investment Opportunities and Potential
The investment opportunities in Addison’s real estate market are promising due to the steady growth in both the single-family homes and apartment sectors. Given the consistent rise in median house prices and the significant population increase, investors could expect continued appreciation in property values.
The more moderate increase in apartment prices presents an opportunity for investors to enter the market at a lower cost, potentially benefiting from rental income as well as long-term capital gains. With population growth outpacing national averages, demand for rental properties is likely to rise, which could lead to higher occupancy rates and rental yields for investors.
In addition to residential properties, investors should also consider commercial real estate and development projects that cater to the growing population’s needs, such as retail spaces, office buildings, and community services.
3. Future Market Outlook
The future outlook for Addison’s real estate market appears positive. The steady price growth in both houses and apartments suggests confidence in the local economy and its real estate sector. Population growth continues to be a strong indicator of potential housing demand, which bodes well for both homeowners and investors alike.
If current trends persist, Addison could see sustained property value appreciation without the volatility seen in some larger markets. Nonetheless, potential investors and homebuyers should monitor interest rates, employment figures, and regional economic developments closely as these factors can influence market dynamics significantly.
In conclusion, Addison offers stable investment opportunities with room for growth. Prospective buyers are encouraged to act judiciously while considering long-term trends over short-term fluctuations in this dynamic market environment.
