Avonbank, 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 (2025) | 15,000 |
Previous Population (2020) | 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 Avonbank, Ontario, currently exhibits steady growth. The median house price in the region is $500,000, reflecting a year-over-year increase of 3.5%. This trend signifies that the housing market is experiencing a moderate appreciation rate, suggesting a stable investment environment for potential homebuyers and investors.
Furthermore, the apartment sector shows a slightly lower growth rate with the median apartment price standing at $300,000, which is up by 2.1% from the previous year. This differential in growth rates between houses and apartments may indicate a more substantial demand for single-family homes compared to apartments or potentially a shift in consumer preference toward more spacious living accommodations.
Investment Opportunities and Potential
Avonbank’s population has experienced significant growth, currently at 15,000 residents with an impressive growth rate of 7.1%. This demographic expansion can be seen as a driver for increased housing demand, presenting lucrative investment opportunities in both residential sectors.
The consistent growth in property values coupled with strong population dynamics suggests that investments in Avonbank’s real estate could yield positive returns. Investors might consider capitalizing on the demand for single-family homes due to their higher appreciation rates or explore the apartment market where entry prices are lower and where there may be untapped rental market potential.
Future Market Outlook
The future outlook for Avonbank’s real estate market appears positive. Given the sturdy population growth combined with ongoing property appreciation, it is likely that the demand for housing will continue to rise. Assuming sustained economic conditions and no major policy changes affecting the housing market, investors can reasonably anticipate continued moderate growth in property values.
The key factors such as population growth will likely spur further development within the community, potentially leading to new job creation and infrastructure improvements that could enhance property values over time. However, it is important for investors to monitor economic indicators and local developments closely to make timely and informed decisions as markets can be influenced by a myriad of external factors.