Connaught, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| 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 Connaught, Ontario, is currently experiencing a period of steady growth. With a year-over-year increase of 4% in median house prices, now standing at $485,000, the market is showing signs of healthy demand. Similarly, the median apartment price has seen a rise of 2.5% over the past year, indicating a stable appreciation trend across different property types. This growth is supported by the town’s burgeoning population which has risen by 4.82%, suggesting a growing demand for housing in the area.
Investment Opportunities and Potential
For investors looking to enter the Connaught real estate market, there are several promising opportunities. The consistent growth in house and apartment prices points to a market with solid returns on investment. Given the population increase, there is potential for both rental and sale markets. Rental properties might become particularly attractive as new residents look for homes, creating an opportunity for investors to capitalize on rising rent prices. Furthermore, with houses appreciating at a faster rate than apartments, single-family homes may represent particularly strong investment opportunities.
Future Market Outlook
The future outlook of Connaught’s real estate market looks optimistic given current trends and demographic data. If the population continues to grow at its current rate of 4.82%, demand for housing is expected to rise correspondingly. This increase in demand could lead to continued appreciation in property values and possibly higher rates of growth than currently observed. However, potential investors should also consider macroeconomic factors and local developments that may impact the market dynamics such as changes in interest rates, employment rates, and regional infrastructure projects.
