Caramat, 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 Caramat, Ontario is currently characterized by steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%, indicating consistent demand and a healthy property value appreciation. Likewise, the median apartment price stands at $300,000, following a slightly lower but stable growth trend of 2.1% year-over-year. These trends suggest that Caramat’s housing market is experiencing balanced growth, which could be attributed to favorable local economic conditions and its appeal to both residents and investors.
Investment Opportunities and Potential
Caramat presents several investment opportunities, particularly for those looking to capitalize on its growing population, which has surged by 7.1%. The steady increase in property values indicates that investments in real estate could yield solid returns over time. Single-family homes appear particularly promising given their higher appreciation rate. Furthermore, the rental market could also offer potential due to the influx of new residents seeking accommodation, making it an opportune time for investors to consider adding rental properties to their portfolios.
Future Market Outlook
The future outlook for Caramat’s real estate market appears optimistic. Population growth remains robust, suggesting ongoing demand for housing will persist. If current economic conditions prevail, we can expect the market to maintain its upward trajectory in terms of property values. The 3.5% growth rate for houses and the 2.1% for apartments should remain stable or possibly increase as the population expands further and the local economy strengthens. Therefore, both homeowners and investors can look forward with cautious optimism to a resilient housing market in the coming years.
