Colgan, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $480,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Colgan, Ontario is experiencing steady growth, reflected in the incremental increase in property values. With a median house price of $525,000, which indicates a 4% year-over-year growth, the market is demonstrating resilience and appeal to both residents and investors. Similarly, the apartment sector has seen a healthy appreciation with the median apartment price at $320,000, following a 2.5% year-over-year trend. The current market conditions are buoyed by the town’s growing population, now standing at 15,500, with a robust population growth rate of 3.3%. This demographic expansion is contributing to sustained demand for housing in Colgan.
Investment Opportunities and Potential
Investors looking to capitalize on the Colgan real estate market have promising opportunities, particularly in the residential sector. The consistent rise in housing prices suggests that purchasing property could yield substantial returns over time. The growth in population also hints at an enduring need for rental properties, making it attractive for those considering buy-to-let investments. With house and apartment prices increasing at stable rates of 4% and 2.5% respectively, investments are not only growing in value but also offer the potential for rental income as an additional revenue stream.
Future Market Outlook
The outlook for the Colgan real estate market remains optimistic. Anticipated continued population growth should drive further demand for housing. If current trends persist, property values are expected to maintain an upward trajectory. This provides a favorable environment for long-term investment strategies. However, potential investors and homeowners should remain vigilant regarding economic factors that can influence interest rates and affordability, which could impact future market dynamics.
