Armadale, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $310,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 15,000 |
| Population Change | 1.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Armadale, Ontario is currently experiencing modest growth. The median house price stands at $520,000, with a year-over-year increase of 4%. This indicates a steady upward trend in housing prices, suggesting that the market is healthy and homes are appreciating at a sustainable rate. Similarly, the median apartment price has reached $310,000, with a slightly lower growth rate of 2.5% year-over-year. This slower pace may reflect a more saturated apartment market or possibly a higher sensitivity to economic factors that influence first-time buyers or investors.
Investment Opportunities and Potential
Given the steady increase in property values, Armadale presents several attractive investment opportunities. The consistent growth in house prices can be appealing to long-term investors looking for capital appreciation. With the median house price being reasonably affordable at $520,000 compared to larger urban centers, there is potential for both rental income and value appreciation.
Apartments in Armadale offer a different investment profile with their lower entry price point of $310,000 and a 2.5% appreciation rate. They could be particularly attractive to those looking to invest in properties aimed at young professionals or small families who may prefer apartment living over houses due to budget constraints or lifestyle choices.
Future Market Outlook
The future outlook for Armadale’s real estate market appears positive. The population has been growing steadily at 1.33%, which suggests ongoing demand for housing in the area. Assuming this trend continues, demand for both houses and apartments is likely to remain strong, underpinning the potential for further price increases and investment returns.
However, investors should remain cognizant of broader economic conditions and local developments that could impact these trends. Factors such as employment rates, interest rates, and regional economic projects can significantly influence the real estate market’s trajectory.
