Chesterville, 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
1. Current Market Conditions and Trends
The real estate market in Chesterville, Ontario is currently experiencing steady growth, with median house prices sitting at $500,000, marking a 3.5% year-over-year increase. This suggests a healthy demand for detached homes in the area, which can be attributed to several factors including the town’s lifestyle appeal and its proximity to larger economic hubs.
Similarly, apartments are also seeing an upward trend with the median price at $300,000, which is an increase of 2.1% from the previous year. This slower growth rate in comparison to houses indicates that while there is interest in multi-family dwellings, the demand is not as vigorous as for single-family homes.
The population growth of 7.1% within Chesterville further supports the observed housing trends, implying that more individuals and families are moving into the area, likely driving up demand for housing across both sectors.
2. Investment Opportunities and Potential
Investors considering the Chesterville market may find potential in both residential and rental properties. The consistent increase in house prices could translate to favorable capital gains over time for those investing in residential properties. The solid growth rate of apartment prices also hints at a stable rental market which could benefit investors looking for long-term income through rental properties.
With a growing population that has surged by 7.1%, there is potential for increased rental demand, catering to newcomers who may be looking for temporary or more affordable housing solutions before committing to homeownership. Given these statistics, Chesterville presents itself as a market with promising opportunities for a range of investment strategies.
3. Future Market Outlook
The future outlook for Chesterville’s real estate market remains optimistic. The town’s consistent population growth coupled with rising property values indicates a robust and expanding market. As long as these trends continue, it is likely that property owners will see sustained appreciation in their investments.
However, investors should remain aware of broader economic conditions such as interest rates, employment levels in nearby cities, and regional development plans that could impact future growth rates. Monitoring these factors will be key in making informed investment decisions moving forward.
In conclusion, Chesterville’s real estate market is on an upward trajectory with strong indicators suggesting continued growth and investment potential. Stakeholders should maintain a close watch on the market dynamics but can be cautiously optimistic about the future performance of their real estate investments in this community.
