Atikokan, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,500 |
| Population Change | 3.4% |
| 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 Atikokan, Ontario, is currently experiencing a steady growth in prices. With the median house price at $485,000 and a year-over-year increase of 4%, the market is showing resilience despite broader economic uncertainties. Similarly, the median apartment price stands at $295,000, which has risen by 2.5% over the past year. These trends indicate a stable demand for housing in the area.
The population of Atikokan has grown to 15,000, with a significant growth rate of 3.4%. This demographic expansion is likely contributing to the sustained demand for housing and can be expected to continue fueling real estate activity in both sales and rentals.
Investment Opportunities and Potential
The consistent rise in property values coupled with population growth presents an optimistic picture for investors interested in Atikokan’s real estate market. Residential properties offer promising investment opportunities due to their steady appreciation. The single-family home segment, witnessing a 4% increase in prices, suggests a healthy market with potential for capital gains.
Apartments show a slightly more modest growth trend; however, with a 2.5% increase year-over-year, they represent an attractive option for those looking to invest in rental properties or seeking an entry point into the real estate market at a lower price bracket.
Future Market Outlook
The future outlook of Atikokan’s real estate market appears positive. The driving forces behind this optimism are the sustained population growth and the town’s economic prospects. As long as these conditions persist, it is reasonable to anticipate further property value increases and a robust real estate environment.
In light of current trends and demographic data, both housing and apartments are poised to remain appealing options for investors and homebuyers alike. It is important for stakeholders to keep an eye on local economic developments and national policy changes that could impact interest rates or borrowing costs, as these factors could influence future market dynamics.
