Amherstburg, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Amherstburg, Ontario, is currently experiencing stable growth. With a median house price sitting at $525,000, the market has seen a 4% year-over-year increase. This trend suggests a healthy demand for housing in the area. In comparison, the median apartment price has reached $320,000, reflecting a slightly more modest annual growth of 2.5%. These figures indicate that the market is growing consistently for different types of residential properties.
The town’s population of 15,500 is on an upward trajectory with a growth rate of 3.3%, signaling an increasing demand for residential properties. This demographic shift is likely to have a sustained positive impact on housing demand and could lead to further appreciation in property values over time.
Investment Opportunities and Potential
In light of the steady growth in property values and the expanding population, Amherstburg presents several appealing investment opportunities. The continued appreciation in house prices offers potential for capital gains for those investing in residential properties. Moreover, the consistent rise in apartment prices suggests that smaller residential units also hold investment promise, particularly for investors aiming at the rental market or seeking more affordable entry points into real estate investment.
The town’s growing populace coupled with its rising property values indicates a robust rental market potential. Investors can capitalize on this by acquiring properties that cater to families or professionals moving to the area who may be looking for rental accommodations before committing to homeownership.
Future Market Outlook
The future real estate market outlook for Amherstburg is positive. Factors such as the solid population growth rate and steady housing price increases point towards ongoing demand and potential for further growth in property values. If current trends persist, investors can remain cautiously optimistic about both short-term returns through rental income and long-term capital gains from property value appreciation.
However, it is important for potential investors to stay informed about local economic developments, changes in municipal policies that might affect real estate, and broader national economic trends that could influence mortgage rates and borrowing costs. Keeping an eye on these factors will be key to making informed investment decisions in Amherstburg’s real estate market.
