Caledonia, 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 Caledonia, Ontario is currently characterized by moderate growth. The median house price stands at $500,000, which represents a steady year-over-year increase of 3.5%. This increment illustrates a stable market that is growing at a reasonable pace, suggesting that the demand for houses remains robust. The median apartment price is slightly lower at $300,000, with a slower growth trend of 2.1% year-over-year. This may indicate a lesser demand for apartments as compared to houses or could reflect an adjustment in the market where apartment prices are correcting themselves after previous hikes.
In terms of demographics, Caledonia boasts a population of 15,000 residents with a substantial population growth rate of 7.1%. This rapid increase in population is likely contributing to the continued demand for housing in the area and can be seen as a positive indicator for the health of the real estate market.
Investment Opportunities and Potential
The current trends in Caledonia’s real estate market present several investment opportunities. The steady rise in house prices combined with significant population growth suggests that there is ongoing demand for residential properties. For investors looking for long-term capital appreciation, single-family homes appear to be a promising asset class given their stronger growth trend.
Apartments, while experiencing slower growth, should not be overlooked as they could offer more affordable entry points into the real estate market or cater to those looking for smaller-scale investment opportunities. Moreover, with an expanding population and potential future development projects aimed at accommodating this growth, there may also be opportunities in land investment or development projects.
Future Market Outlook
The outlook for Caledonia’s real estate market appears cautiously optimistic. Given the solid foundation of continuous population growth and corresponding housing demand, it is reasonable to expect that property values will maintain an upward trajectory. However, investors and homebuyers should keep an eye on broader economic conditions and interest rate trends which could impact affordability and borrowing costs.
The consistent rise in property values at a sustainable rate suggests that Caledonia is not experiencing the volatility seen in some other markets; thus, it offers a potentially less risky environment for investment. Should the local economy continue to support job creation and attract new residents, the real estate market in Caledonia is likely to remain vibrant and offer valuable opportunities for both homeowners and investors alike.