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 experiencing steady growth. As indicated by the latest statistics, the median house price stands at $500,000 with a year-over-year increase of 3.5%. This increment signifies a stable market with a consistent appreciation of property values. Similarly, apartments in the area have seen a growth trend, with the median price set at $300,000 and an annual appreciation rate of 2.1%. The town’s population has reached 15,000 residents, which is a substantial increase with a notable growth rate of 7.1%. This population surge suggests an escalating demand for housing which may continue to fuel the real estate market.
Investment Opportunities and Potential
Investors considering the Caramat real estate market can expect potential due to its growing population and consistent property value appreciation. The steady increase in house prices indicates a strong potential for capital gains over time. Furthermore, apartments are becoming an attractive option for investors looking for a smaller initial investment or those aiming to cater to individuals or small families who prefer affordable housing options. With the current trend in apartment prices showing moderate growth, this sector also promises investment potential especially if rental demand follows suit with population growth.
Future Market Outlook
The future outlook for Caramat’s real estate market appears positive. With a robust population growth rate of 7.1%, there is likely to be sustained demand for residential properties. If this trend continues, the market could see ongoing increases in both property values and rental rates. Nonetheless, investors should remain cognizant of broader economic factors that could influence local real estate markets such as employment rates, interest rate changes, and government housing policies.
