Artemesia, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Artemesia, Ontario is currently experiencing stable growth. The median house price in the area stands at $500,000, with a healthy year-over-year increase of 3.5%. This reflects a consistent demand for housing in the region, coupled with limited supply that has been driving prices upward at a moderate pace.
Similarly, the apartment market is showing signs of progression with the median apartment price at $300,000 and a year-over-year trend increasing by 2.1%. This slower growth rate in comparison to houses suggests that apartments are in slightly lesser demand or there might be more supply available to meet the rental market needs.
The local population of 15,000 has risen by an impressive 7.1%, indicating a growing community that could further stimulate housing demand. This demographic shift is likely contributing to the sustained real estate appreciation observed in recent years.
Investment Opportunities and Potential
With the demonstrated growth in both property values and population, Artemesia presents appealing investment opportunities. The consistent increase in median house prices provides investors with the potential for capital gains over time. Given the current trends, single-family homes could be particularly lucrative due to their higher demand as reflected by their more robust appreciation rate.
Apartments also represent an attractive investment option given their lower entry price point and positive price movement. For investors focused on rental income, the growing population suggests a strong rental market with potential for yield improvements as demand for living spaces rises.
Moreover, considering the influx of new residents and potential development projects that may arise from this growth, there could be opportunities for investment in new construction or redevelopment of existing properties to meet the evolving needs of Artemesia’s expanding populace.
Future Market Outlook
The future outlook of Artemesia’s real estate market remains optimistic given current trends and demographic shifts. If population growth continues at its current pace or accelerates due to economic opportunities or lifestyle attractions of the area, housing demand is likely to increase accordingly. This could lead to a higher rate of appreciation for both houses and apartments over time.
However, investors should monitor local economic developments and potential changes in housing supply closely. An increase in new construction could balance out housing demand and moderate price growth while diversification of the local economy would ensure long-term stability and attractiveness of real estate investments in Artemesia.
In conclusion, Artemesia’s real estate market shows promising conditions for both short-term gains and long-term investment potential based on current data points. Investors are advised to conduct thorough due diligence and consider both macroeconomic factors and local market nuances before making investment decisions.
