Castleton, 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 Castleton, Ontario, is currently experiencing a phase of moderate growth. The median house price in Castleton stands at $500,000, reflecting a year-over-year increase of 3.5%. This increment indicates a healthy demand for single-family homes in the area, suggesting that the market is steadily appreciating without overheating.
In the apartment sector, the median price is currently $300,000, with a slower year-over-year increase of 2.1%. This trend points to a more stabilized apartment market, which may be due to several factors including a balance between supply and demand or increased competition from the rental market.
With a population of 15,000 and a notable growth rate of 7.1%, Castleton’s demographic dynamics are likely contributing positively to the local real estate market by increasing demand for housing.
Investment Opportunities and Potential
The consistent growth in property values coupled with the burgeoning population suggests that Castleton presents viable investment opportunities. Single-family homes, given their higher appreciation rate, appear particularly enticing for long-term investments. Investors should consider these dwellings as they tend to attract families looking for stability in small communities like Castleton.
Apartments present an opportunity for investors targeting lower entry costs and those interested in tapping into the rental market. Given the slower appreciation rate for apartments, investors might benefit from competitive pricing strategies to maximize rental yields as the community grows.
The ongoing population growth could also signal potential for development projects to meet housing demand. Investors and developers might explore avenues such as constructing new residential units or renovating existing properties to cater to various segments within the market.
Future Market Outlook
The future outlook for Castleton’s real estate market appears optimistic. The steady increase in property values suggests that the market will continue to grow at a sustainable rate. As long as the population continues on its upward trajectory, demand for housing should remain robust.
An important consideration is how local economic factors will evolve alongside demographic changes. Assuming no major economic disruptions occur, Castleton’s real estate market could maintain its current path of gradual growth. Investors should monitor both regional economic trends and national policies that might influence interest rates or housing regulations.
In conclusion, while no investment is without risk, Castleton offers promising prospects based on current trends and demographic indicators. Prudent investors should perform due diligence regarding specific locations within Castleton and stay abreast of broader economic developments when crafting their investment strategies.
