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
Current Market Conditions and Trends
The real estate market in Addison, Ontario is currently experiencing steady growth. With a median house price of $500,000 and an annual appreciation trend of 3.5%, the market exhibits a healthy upward trajectory. Similarly, the median apartment price stands at $300,000 and has seen a slightly more modest year-over-year increase of 2.1%. This suggests stability in the housing sector which is often attractive to both homeowners and investors.
Given Addison’s population of 15,000 and its robust population growth of 7.1%, demand for housing is expected to continue rising. This influx of residents could be attributed to various factors such as employment opportunities, local amenities, and the town’s overall livability. These demographic trends are critical indicators that often correlate with increased housing demand, thus potentially driving prices upward over time.
Investment Opportunities and Potential
The positive market trends in Addison present several investment opportunities. The consistent rise in property values across both houses and apartments suggests that investments made now may benefit from capital gains in the long term. Moreover, the strong population growth indicates a potential increase in rental demand, offering investors a chance to capitalize on rental income alongside property appreciation.
For those considering investment properties, apartments might be particularly appealing due to their lower entry price point of $300,000 compared to houses. With a moderate price trend of 2.1% year-over-year for apartments, investors may find these properties to be a more accessible and manageable investment with room for steady growth.
Future Market Outlook
Looking ahead, the real estate market in Addison appears promising. The consistent growth in property values coupled with significant population increases positions Addison as an emerging market with potential for further expansion. Should current economic conditions persist—with low-interest rates, favorable employment rates, and continued population growth—the outlook remains optimistic for both residential property owners and investors.
However, it is important to remain cognizant of broader economic factors that could influence market dynamics such as shifts in interest rates or unforeseen global events. Investors are advised to conduct thorough due diligence and consider long-term horizons when contemplating real estate transactions in Addison.
