Codrington, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| 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 | $520,000 |
| 4 bedrooms | $640,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,250 |
| Previous Population (2020) | 15,000 |
| Population Change | 1.7% |
| 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 Codrington, Ontario is currently experiencing steady growth. The median house price in the area stands at $520,000, which represents a year-over-year increase of 3.8%. This trend indicates a healthy demand for single-family homes alongside a moderate appreciation rate that benefits both homeowners and investors seeking long-term gains. In contrast, the median apartment price is $310,000 with a slightly lower year-over-year growth of 2.5%, suggesting a more stable but less dynamic market for multi-family units.
Further analyzing the local market conditions, it’s evident that the population of Codrington is growing at a rate of 1.67%, which is likely contributing to the steady demand for housing in the area. This growth can potentially put upward pressure on prices over time if the supply does not keep up with the increasing demand.
Investment Opportunities and Potential
With the current market trends and demographic data indicating ongoing growth, investment opportunities in Codrington are promising. The consistent rise in property values presents potential for capital appreciation over time. Single-family homes seem to be leading this trend, with a higher annual increase in median price compared to apartments.
Investors may also consider entering the rental market due to the population growth, as there will likely be an elevated need for rental accommodations. This could drive up rental yields and reduce vacancy rates. Diversifying into both residential types—houses and apartments—could spread risk while taking advantage of different segments within the local housing market.
Future Market Outlook
The future real estate market outlook for Codrington remains optimistic. Population growth is expected to continue driving housing demand which may lead to further price increases if new construction doesn’t match pace with demand. However, prospective investors and buyers should monitor local economic factors, interest rates, and national housing policies that could affect affordability and mortgage accessibility.
Should local employment rates remain stable or improve alongside population trends, Codrington’s real estate market may see sustained or increased growth levels moving forward. As such, both short-term and long-term investment strategies hold potential in this market environment, provided that they are well-informed by ongoing analysis of local and national economic indicators.
