Ashfieldcolbornewawanosh, 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 Ashfield-Colborne-Wawanosh, Ontario, is experiencing a period of steady growth. The median house price in the region stands at $500,000, indicating a year-over-year increase of 3.5%. This growth rate suggests that the market is healthy and prices are appreciating at a moderate pace, reflecting both demand and affordability in the area. Additionally, the median apartment price is currently $300,000, with a slightly lower appreciation trend of 2.1% over the past year. The difference in appreciation rates between houses and apartments may be indicative of a stronger preference for single-family homes or a greater supply of apartments.
Investment Opportunities and Potential
For investors considering Ashfield-Colborne-Wawanosh’s real estate market, there are promising opportunities. The steady growth in property values provides an environment conducive to long-term investment strategies. While single-family homes present a higher median price point, their stronger appreciation rate could result in more significant capital gains over time. Apartments, with a lower entry price and slower appreciation rate, could appeal to investors looking for rental properties or more affordable investment options.
Moreover, with the population growing by 7.1%, there is potential for increased rental demand, which can drive both rental rates and property values upward. Investors should take note of these demographic shifts as they may signal emerging areas within the community that could be ripe for development or revitalization projects.
Future Market Outlook
The future outlook for Ashfield-Colborne-Wawanosh’s real estate market appears positive. Population growth is robust at 7.1%, which typically translates to higher demand for housing. If this trend continues, it could lead to further increases in property values and potentially attract new developments to accommodate the growing community.
Investors and homebuyers considering entering the market should monitor local economic factors and infrastructure developments that could impact future property values. Factors such as employment rates, new business growth, public transportation improvements, and educational institutions will also play essential roles in shaping the future of Ashfield-Colborne-Wawanosh’s real estate landscape.
In summary, with its current upward trends and positive demographic signals, Ashfield-Colborne-Wawanosh presents itself as an attractive market for both residential living and investment opportunities.
