Astorville, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $510,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $430,000 |
| 3 bedrooms | $510,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $255,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| 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 Astorville, Ontario, is currently experiencing a steady growth pattern. The median house price stands at $510,000, with a year-over-year increase of 4%. This indicates a healthy upward trend, reflecting both the demand for single-family homes and the overall economic stability within the area. On the other hand, apartments are showing a slightly more modest growth trend with a median price of $315,000 and an appreciation of 2.5% over the past year. These figures suggest that while the market is growing, it remains accessible to various segments of buyers.
The population of Astorville has reached approximately 15,200 residents, showcasing a significant growth rate of 4.8%. This demographic expansion can be attributed to factors such as Astorville’s quality of life, employment opportunities, and its appeal to individuals seeking residential stability outside major urban centers.
Investment Opportunities and Potential
Given Astorville’s consistent population surge and accompanying housing demand, real estate investment opportunities are ripe. The ongoing increase in house prices provides a solid foundation for potential capital gains. For investors looking to enter the rental market or expand their portfolios, apartment units represent an attractive entry point due to their lower median price point and growing demand among smaller households or individuals who prefer more affordable housing options.
The diversity in property types coupled with steady price appreciation suggests that both residential and commercial investors can find promising avenues for investment. It is especially pertinent for those who are keen on long-term growth prospects rather than immediate high-yield returns.
Future Market Outlook
The future market outlook for Astorville’s real estate appears optimistic. The consistent population growth implies sustained demand for housing which should maintain upward pressure on both house and apartment prices. Assuming that local economic conditions remain favorable and no major policy changes disrupt the housing market dynamics, Astorville is poised to see continued real estate development and expansion.
Prospective investors should monitor infrastructure developments and any changes in local regulations that could impact future property values. Additionally, keeping an eye on the broader national economic trends will be crucial to making informed decisions within this evolving market.
In conclusion, Astorville presents itself as an attractive market for both homeownership and investment purposes with its steady growth in property values and significant demographic expansion.
