Avon, 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
1. Current Market Conditions and Trends
The real estate market in Avon, Ontario currently exhibits steady growth, with the median house price standing at $500,000 and showing a year-over-year increase of 3.5%. This suggests a stable and growing housing market that is attracting both homebuyers and investors. The apartment sector is also witnessing growth, albeit at a slightly slower pace, with the median apartment price at $300,000 and a year-over-year trend of 2.1%. Such moderate increases in property values are indicative of a healthy market that has not yet reached its peak or become overvalued.
The population of Avon has seen significant growth, with an increase of 7.1%, bringing the total to approximately 15,000 residents. This influx is likely contributing to the demand for housing and supporting the current upward trends in property prices.
2. Investment Opportunities and Potential
The data suggests that Avon presents attractive investment opportunities for those looking to enter the real estate market. Properties such as single-family homes are likely to continue appreciating in value given the consistent growth pattern observed over the past year. For those interested in rental properties or more affordable investments, the apartment market offers potential as well, especially with the ongoing population increase fueling demand for diverse housing options.
Investors should consider both long-term capital appreciation prospects and the potential for rental income when evaluating Avon’s market. With relatively modest year-over-year price increases, there is room for growth without immediate risk of a pricing bubble or affordability crisis that could deter future buyers or renters.
3. Future Market Outlook
The future outlook for Avon’s real estate market appears positive based on current trends and demographic indicators. The sustained population growth suggests that demand for housing will remain robust, potentially driving further price increases unless supply significantly ramps up to match it.
In light of these factors, we can anticipate continued moderate appreciation in property values, making Avon an appealing location for both residential buyers and real estate investors seeking stable markets with potential for long-term gains. However, as with any investment decision, it is crucial to monitor economic variables and local developments that could influence future conditions.
