Aurora, Ontario Real Estate Market Data
Updated: Nov 2024
House
Median price | $1,150,000 |
Monthly growth | 1.0% |
Quarterly trend | 4.5% |
Stock on market | 0.6% |
Apartment
Median price | $650,000 |
Monthly growth | 0.8% |
Quarterly trend | 3.0% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $900,000 |
3 bedrooms | $1,150,000 |
4 bedrooms | $1,350,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $600,000 |
2 bedrooms | $700,000 |
3 bedrooms | $800,000 |
Demographics
Current Population (2025) | 16,000 |
Previous Population (2020) | 15,500 |
Population Change | 3.2% |
Total Private Dwellings | 7,000 |
Occupied Private Dwellings | 6,700 |
Population Density (per km²) | 2.0 |
Land Area (km²) | 3,000.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Aurora, Ontario is currently experiencing a period of steady growth. The median house price stands at $1,150,000, which represents a year-over-year increase of 4.5%. This indicates that the housing market remains robust despite global economic uncertainties. Similarly, the median apartment price has seen a rise to $650,000, with a slightly lower growth rate of 3% year-over-year.
Aurora’s population has reached approximately 16,000 residents, with a notable growth rate of 3.2%. This population increase is likely contributing to the demand for housing in the area and supporting the positive price trends observed in both houses and apartments.
Investment Opportunities and Potential
Given Aurora’s consistent market performance and population growth, there are substantial investment opportunities for both residential and rental properties. The steady increase in property values indicates that investments made in the current market have strong potential for capital appreciation.
For investors looking at rental properties, the growing population suggests a rising demand for rental accommodations. With the existing trend of property value increases, investors could expect reasonable returns on investment (ROI) through rental income as well as long-term property value appreciation.
Future Market Outlook
The future outlook for Aurora’s real estate market appears optimistic. The ongoing population growth implies a sustained demand for housing, which could continue to drive property prices upwards. Assuming similar economic conditions persist, we can anticipate further price increases for both houses and apartments in line with recent trends.
However, investors should be mindful of broader economic factors such as interest rates, employment levels, and regional development plans that may impact the market dynamics. Keeping an eye on these indicators will be crucial for making informed decisions about entering or exiting the Aurora real estate market.