Chathamkent, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $335,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,300 |
| Previous Population (2020) | 15,000 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Chatham-Kent, Ontario, is currently experiencing moderate growth. With a median house price of $485,000, the year-over-year increase stands at approximately 4%. This indicates a steady demand for housing in the area, with prices rising at a sustainable rate.
The market for apartments is also showing positive movement, albeit at a slightly slower pace than houses. The median apartment price is now $295,000, reflecting a year-over-year trend of 2.5%. This suggests that more affordable housing options such as apartments are maintaining their upward trajectory, although not as rapidly as single-family homes.
With a population of 15,300 and a growth rate of 2%, Chatham-Kent is steadily attracting new residents. This ongoing influx contributes to the sustained demand for housing and can be seen as a supporting factor in the ascending price trends.
2. Investment Opportunities and Potential
Considering the current market conditions, investment opportunities in Chatham-Kent appear promising. The steady rise in property values offers potential for capital gains for investors who enter the market at this stage, particularly in single-family homes which are seeing higher appreciation rates.
The smaller but growing interest in apartments presents an opportunity for investors looking to cater to individuals or small families seeking more affordable housing solutions. Moreover, with stable population growth projected to continue, rental demand is likely to remain strong, which could provide reliable rental income streams for property investors.
Investors should also consider the broader economic context of Chatham-Kent, including local employment rates, economic development projects, and infrastructural advancements that could further affect the real estate market’s dynamics.
3. Future Market Outlook
The future outlook of Chatham-Kent’s real estate market appears cautiously optimistic. Population growth is expected to sustain housing demand, which should support ongoing property value appreciation.
If current trends persist, both homebuyers and investors might anticipate continued moderate growth in median house prices. However, it’s important to note that external factors such as changes in interest rates, economic policies, or unforeseen global events could impact these predictions.
In conclusion, while nothing in real estate can be guaranteed, Chatham-Kent’s current performance coupled with its demographic trends suggest that its real estate market has the potential to remain robust for the foreseeable future.
