Avonmore, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $505,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
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 | $505,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2024) | 15,100 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Avonmore, Ontario, is experiencing a period of moderate growth. The median house price in the region stands at $505,000, which marks a 4% increase year-over-year. This demonstrates a steady appreciation in property values, reflecting stable demand within the housing market.
Apartments in Avonmore are following a similar upward trend, albeit at a slightly slower pace. With the median apartment price sitting at $295,000 and experiencing a 2.5% increase year-over-year, it suggests that this segment of the market is also growing but with less intensity compared to houses.
The population of Avonmore has reached 15,100, with a healthy growth rate of 2.03%. This influx of residents can be attributed to the area’s attractiveness for families and professionals alike, which is likely contributing to the consistent demand for housing.
Investment Opportunities and Potential
Given the current growth rates in both housing and apartment prices, Avonmore presents viable investment opportunities. The consistent rise in median prices indicates that investments made now have potential for capital gains in the medium to long term.
Furthermore, with population growth surpassing 2%, there is an increasing demand for rental properties. Investors looking to purchase rental units could benefit from both value appreciation and rental income. The more moderate increase in apartment prices also suggests an accessible entry point for new investors or those seeking lower-risk investments.
Future Market Outlook
The real estate market in Avonmore shows signs of continued growth going forward. The positive trend in property values is expected to persist as the local economy remains robust and the population continues to rise. Alongside this demographic expansion, there will likely be sustained demand for both owned and rented properties.
However, investors should monitor economic indicators and be mindful of external factors such as interest rates and job market stability which can impact buyer affordability and influence future market trends.
In conclusion, while current trends indicate healthy market conditions with promising investment opportunities, it’s crucial for investors to stay informed about local and national economic developments that could affect the future real estate landscape in Avonmore.
