Codrington, 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 Codrington, Ontario is currently experiencing moderate growth. The median house price stands at $500,000, which represents a year-over-year increase of 3.5%. This suggests a stable and growing housing market that could be attractive to both homeowners and investors. Additionally, the median apartment price is $300,000 with a slower growth rate of 2.1% year-over-year.
Digging deeper into these statistics, it can be inferred that houses are seeing a slightly more robust appreciation in value compared to apartments. This difference could indicate a higher demand for single-family homes or a potential saturation in the apartment sector. Moreover, with a population of 15,000 that has grown by 7.1%, there is evidence of demographic expansion which may underpin the continued demand for housing in the area.
Investment Opportunities and Potential
The current trends offer various investment opportunities in Codrington’s real estate market. The steady climb in house prices at a rate of 3.5% suggests that purchasing residential properties could yield solid returns over time. For investors looking for more affordable options with lower entry barriers, the apartment market—with its 2.1% growth rate—also presents potential for long-term investment.
The sizable population growth indicates an increasing need for housing which could benefit investors through rising rental income as the supply struggles to keep up with demand. This demographic trend combined with economic factors could lead to further appreciation in property values, presenting an opportunity for capital gains on investments made today.
Future Market Outlook
The future outlook for Codrington’s real estate market appears positive based on current data. Should the population continue to grow at the current rate of 7.1%, demand for housing is likely to increase accordingly. This sustained demand could continue to drive property prices upward, potentially at an accelerated rate if new housing supply does not keep pace.
Investors should monitor key indicators such as local employment rates, infrastructure developments, and changes in interest rates as these factors will also influence the real estate market’s trajectory. However, based on existing trends and data, Codrington stands as an enticing market with healthy growth prospects for both short-term and long-term real estate investment strategies.
