Azilda, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $510,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $510,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 15,000 |
| Population Change | 1.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Azilda
The real estate market in Azilda, Ontario, currently exhibits stable growth, with the median house price sitting at $510,000. This represents a year-over-year increase of 4%, indicating a healthy demand for residential properties. The apartment sector has also seen growth, albeit at a slightly more modest pace of 2.5% year-over-year, bringing the median apartment price to $315,000.
With a population of 15,200 that is increasing at a rate of 1.33% per annum, Azilda is experiencing steady demographic growth that supports the housing market’s expansion. The escalating prices reflect a seller’s market where inventory remains tight and buyers are willing to pay premium prices for available properties.
Investment Opportunities and Potential in Azilda
Azilda’s real estate market is ripe with investment opportunities, especially for those looking to capitalize on the consistent appreciation in property values. Single-family homes present an attractive option for long-term investment due to their strong performance and higher year-over-year price increase compared to apartments.
The growing population suggests that rental properties could also be a viable investment strategy as new residents may look for rental accommodation before purchasing homes. Investors focusing on apartments can expect steady gains given the 2.5% price increase trend, though these gains may be more moderate compared to the housing market.
Future Market Outlook for Azilda
The outlook for Azilda’s real estate market remains optimistic. As population growth continues to outpace national averages, demand for housing is expected to sustain its current trajectory or potentially increase. Barring any unforeseen economic events or shifts in local industry and employment rates, the real estate market should maintain its steady growth path.
Investors and potential homebuyers can take confidence from the current trends which signal ongoing appreciation in property values. However, as with any investment, it is important to remain informed about local and national economic indicators that could influence market conditions in the future.
