Chesley, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Chesley, Ontario is currently experiencing stable growth, reflective of broader national trends. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This incremental growth suggests a healthy market that is growing at a sustainable rate, avoiding the volatility observed in many urban centers.
Apartments in Chesley are also experiencing an upward trend, albeit at a slightly slower pace than houses. The median apartment price is currently $300,000, with a year-over-year growth of 2.1%. This indicates a steady demand for more affordable and smaller-scale housing options within the city.
The population of Chesley has reached approximately 15,000 residents, with a robust growth rate of 7.1%. This significant population increase is indicative of the town’s growing appeal to both individuals and families seeking communities outside denser urban areas.
Investment Opportunities and Potential
Given the sustained growth in property values and the considerable population increase, Chesley presents several attractive investment opportunities. The consistent rise in median house prices signals a strong and enduring demand for residential properties. Investors looking to acquire assets with potential for capital appreciation would be well-advised to consider the local housing market.
In addition to single-family homes, the gradual increase in apartment prices points to an opportunity for investors interested in multi-unit residential buildings. Such properties could cater to individuals and smaller households looking for affordable living spaces.
The town’s population surge also suggests potential for development projects that can address both current and future housing demands. These projects could range from new residential constructions to the renovation of existing properties to cater to various market segments including first-time homebuyers, downsizers, or rental investors.
Future Market Outlook
Looking ahead, the real estate market in Chesley appears poised for continued growth. The combination of reasonable property price increases and strong population growth creates an optimistic outlook for both short-term stability and long-term investment potential.
However, it’s important to note that broader economic factors such as interest rates, employment levels, and regional economic policies can have an impact on local real estate markets. Prospective investors should monitor these variables closely while also considering the inherent value offered by Chesley’s increasing population and its appeal as a tranquil alternative to larger urban areas.
In conclusion, Chesley’s real estate market is characterized by stable growth, demographic expansion, and positive prospects for investors. With strategic planning and consideration of external economic factors, stakeholders can leverage these conditions for successful real estate ventures in the area.
