Azilda, 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
Current Market Conditions and Trends
The real estate market in Azilda, Ontario is currently experiencing a period of steady growth. The median house price in the area stands at $500,000, with a year-over-year increase of 3.5%. This indicates a healthy demand for housing in the region, suggesting that the local real estate market is resilient and potentially buoyant. In comparison, the median price for an apartment is $300,000, with a more modest annual growth rate of 2.1%. The differentiation in growth rates between houses and apartments may reflect a stronger preference or demand for single-family homes in this community.
Investment Opportunities and Potential
The investment potential in Azilda’s real estate market is underscored by its steady population growth of 7.1%, which suggests an increasing demand for residential properties. Investors looking to capitalize on this trend might consider both purchasing properties for long-term appreciation and acquiring rental units to cater to those who are not yet ready or able to buy homes. With house prices growing at a faster rate than apartment prices, investment in single-family homes could offer higher capital gains over time. However, apartments might provide more accessible entry points into the real estate market for investors with less capital.
Future Market Outlook
The future outlook for Azilda’s real estate market remains positive given the robust population growth rate. As more people move into the area, it is likely that demand for housing will continue to rise, potentially driving prices upward further. The consistent increase in property values suggests a stable investment climate and offers potential for continued appreciation. It is important for investors to monitor economic indicators and development plans within Azilda as these factors can influence future market conditions and growth opportunities.
