Chelmsford, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $515,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| 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 | $425,000 |
| 3 bedrooms | $515,000 |
| 4 bedrooms | $625,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $345,000 |
| 3 bedrooms | $455,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| 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 Chelmsford, Ontario has been showing a steady growth with the median house price currently standing at $515,000, marking a 4% increase year-over-year. This uptick suggests a healthy demand for residential properties in the area. The median apartment price is slightly more modest at $295,000 but also indicates an upward trend with a 2.5% rise year-over-year. These statistics reflect an active market where property values are progressively appreciating.
The population of Chelmsford has grown by 4.8% to reach 15,200 residents. This growth can be attributed to the town’s increasing attractiveness to both families and professionals seeking affordable housing options away from larger urban centers while still desiring proximity to amenities and job markets.
Investment Opportunities and Potential
Considering the steady increase in property values and population growth, Chelmsford presents several promising investment opportunities. For investors seeking long-term capital gains, the residential housing market offers solid potential due to the consistent appreciation trend. The rising demand for housing driven by population growth could also indicate lucrative opportunities in rental properties as more individuals and families look for homes in the community.
Investors might also explore the development of new residential projects or renovation of existing properties to cater to the needs of a growing population that is searching for modern living spaces. With apartment prices experiencing a slower growth rate compared to houses, there could be untapped potential in this sector for both rental and sale markets.
Future Market Outlook
The future outlook for Chelmsford’s real estate market remains optimistic based on current trends and demographic shifts. If the population continues to expand at its current rate or higher due to ongoing urban-to-rural migration patterns and regional economic development, demand for both housing and rental units is likely to remain strong. Thus, barring any unforeseen economic disturbances or policy changes that could affect the housing market nationally or locally, investors can reasonably expect continued growth in property values.
Maintaining close watch on infrastructure developments and employment trends within the region will be crucial for accurately forecasting future real estate performance. However, based on available data and observed trends, Chelmsford is poised to sustain its path of steady real estate market growth in the near term.
