Castleton, Ontario Real Estate Market Data
Updated: Nov 2024
House
Median price | $550,000 |
Monthly growth | 1.5% |
Quarterly trend | 4.2% |
Stock on market | 0.7% |
Apartment
Median price | $320,000 |
Monthly growth | 1.0% |
Quarterly trend | 2.5% |
Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $450,000 |
3 bedrooms | $550,000 |
4 bedrooms | $650,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $260,000 |
2 bedrooms | $360,000 |
3 bedrooms | $460,000 |
Demographics
Current Population (2025) | 15,500 |
Previous Population (2020) | 15,000 |
Population Change | 3.3% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,700 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Castleton, Ontario currently presents a stable environment with a healthy growth trend. The median house price stands at $550,000 which marks a 4.2% year-over-year increase. This steady appreciation indicates a sustained demand for housing in the region. Similarly, the median apartment price is reported at $320,000, following a 2.5% year-over-year upward trajectory.
The population of Castleton has reached approximately 15,500 residents, with a significant population growth rate of 3.3%. This demographic expansion supports the ongoing demand for residential properties and suggests that the local real estate market is thriving with an influx of new residents seeking housing.
Investment Opportunities and Potential
Investors considering the Castleton area should note the progressive increase in property values. With house prices appreciating at over 4% annually, investments in single-family homes are likely to yield positive returns. Apartments also offer promising opportunities given their more moderate price point and a respectable appreciation rate of 2.5% per annum.
The population growth further amplifies the potential for rental properties to meet housing needs. Considering the current market trends, investment properties could capitalize on both long-term equity gains and short-term rental income.
Future Market Outlook
The future market outlook for Castleton remains optimistic based on current trends and demographic indicators. With continuous population growth and a steady climb in property values, the demand for housing is expected to maintain or potentially increase. This bodes well for both homeowners looking to secure value appreciation over time and investors seeking robust investment opportunities.
The local government’s development plans and infrastructure projects could also play a pivotal role in shaping the future real estate landscape in Castleton. Potential investors and homebuyers should stay informed about such developments as they might significantly impact property values and desirability within specific areas of the town.