Castlemore, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $950,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 1.0% |
Apartment
| Median price | $550,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.5% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $800,000 |
| 3 bedrooms | $950,000 |
| 4 bedrooms | $1,100,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $450,000 |
| 2 bedrooms | $600,000 |
| 3 bedrooms | $750,000 |
Demographics
| Current Population (2025) | 18,000 |
| Previous Population (2020) | 17,000 |
| Population Change | 5.9% |
| Total Private Dwellings | 7,000 |
| Occupied Private Dwellings | 6,500 |
| Population Density (per km²) | 1.8 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Castlemore, Ontario is currently experiencing a period of steady growth. With a year-over-year increase of 4.2% for houses and 2.5% for apartments, the market is showing signs of healthy demand. The median house price stands at an impressive $950,000, indicating a robust market that caters to mid-to-high-end properties. Conversely, the median price for apartments is $550,000, which presents more accessible entry points for first-time buyers or investors looking for smaller properties.
The population of Castlemore has grown by 5.9%, now totaling approximately 18,000 residents. This growth suggests an increasing demand for housing in the area and potentially tighter market conditions if supply does not keep pace with demand. These factors combined signal a competitive market environment where well-priced properties are likely to attract significant interest.
Investment Opportunities and Potential
The steady appreciation in property values in Castlemore offers promising investment opportunities. The consistent growth in house prices suggests that purchasing residential real estate in this region could yield substantial returns over time. Investors should consider both the resale potential of single-family homes and the rental market attractiveness for apartments given the diverse population seeking housing solutions.
Furthermore, as the population continues to expand and the local economy develops, there may be future opportunities in commercial real estate or new residential developments to meet the growing housing needs. Investors would be wise to monitor zoning changes or development plans that could affect property values or create new investment niches.
Future Market Outlook
The future real estate market outlook for Castlemore is optimistic based on current trends and demographic data. Population growth at nearly 6% is a strong indicator of future demand for housing, which should support continued appreciation in property values over time. Assuming economic conditions remain stable and interest rates are favorable, the real estate market in Castlemore is positioned for ongoing growth.
In addition to residential growth, any enhancements in local infrastructure or amenities will further bolster property values by making the area more attractive to potential buyers and renters. Investors and homebuyers with a long-term perspective may find significant value in acquiring assets within this steadily growing community.
