Centralia, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $385,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $605,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| 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 Centralia, Ontario is currently experiencing a period of steady growth. With a median house price of $495,000 and an upward trend of 3.2% year-over-year, the housing sector shows signs of moderate appreciation in value. Similarly, the apartment market has shown resilience with a median price point of $295,000 and a 2.5% year-over-year growth rate.
The population of Centralia has been growing at a rate of 3.4%, which is higher than the national average, indicating an increasing demand for housing in the area. This demographic expansion is crucial to sustaining the current upward trajectory in real estate values as it drives demand for both ownership and rental properties.
Investment Opportunities and Potential
Investors considering Centralia’s real estate market can find potential in various segments. The consistent growth in house prices suggests that purchasing residential properties could yield capital gains over time. The apartment sector also presents opportunities for investors looking to enter the rental market, especially given the rising population which may increase demand for rental units.
Moreover, with the population growth outpacing national averages, there is potential for new development projects to meet the growing housing needs. Developers and investors might find this an opportune moment to initiate residential projects catering to different market segments, from affordable housing to luxury dwellings.
Future Market Outlook
The future outlook for Centralia’s real estate market appears cautiously optimistic. Barring any unforeseen economic downturns or drastic policy changes affecting the housing market, the current trends suggest that both house and apartment prices will continue to rise at a sustainable pace.
The robust population growth serves as a strong fundamental factor supporting this outlook, ensuring that demand for housing remains sturdy. However, potential investors must also consider external economic factors such as interest rates, employment levels, and regional economic health that could influence future market conditions.
In conclusion, while immediate indicators point towards ongoing growth and stability in Centralia’s real estate market, investors should maintain vigilance over broader economic signals that might impact their investments in the medium to long term.
