Chatham, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.9% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,050 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.8% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Chatham, Ontario, currently presents a stable growth environment. With a median house price of $485,000 and a year-over-year increase of 2.9%, the market is experiencing steady appreciation. This indicates a healthy demand for housing in the area. Similarly, apartments are also seeing growth with a median price of $295,000 and an annual appreciation rate of 1.9%. The consistent growth in property values suggests robust market conditions that are likely to continue in the near term.
Driven by a considerable population growth of 3.8%, the demand for housing is likely to remain strong. This influx could be due to factors such as employment opportunities, lifestyle preferences, or Chatham’s appeal as a smaller urban center compared to larger cities.
Investment Opportunities and Potential
For investors looking at Chatham’s real estate market, the current trends indicate several opportunities. The steady increase in property values provides potential for capital gains over the long term. Moreover, the ongoing population growth may lead to increased demand for rental properties, making buy-to-let investments particularly appealing.
Given the more modest price point of apartments and their 1.9% price trend increase, this segment might be especially attractive for entry-level investors or those seeking lower investment thresholds with solid growth prospects.
Future Market Outlook
The future outlook for Chatham’s real estate market remains positive. The city’s rising population is expected to continue fuelling demand for housing. The sustained year-over-year increases in property values reflect an underlying confidence in the market and suggest that this upward trend is likely to persist.
Infrastructure developments and economic initiatives may further bolster market strength by attracting new residents and businesses to the region. However, investors should also consider broader economic factors such as interest rates, employment rates, and regional economic health when evaluating long-term investment potential.
In conclusion, Chatham’s real estate market exhibits promising characteristics for both homebuyers and investors alike, supported by gradual appreciation in property values and demographic trends that signal ongoing demand.
