Craigmont, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $510,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $305,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.3% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $510,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Craigmont, Ontario is currently experiencing steady growth as evidenced by the year-over-year increase in property values. The median house price stands at $510,000, reflecting a growth of 3.8% compared to the previous year. Apartments are also seeing a positive trend, with the median price at $305,000 and an annual appreciation rate of 2.3%. These trends indicate a healthy demand in the housing market.
The population of Craigmont has reached approximately 15,500 residents, growing at a rate of 3.3%. This demographic shift suggests an increasing demand for housing, which may continue to drive property prices upward.
Investment Opportunities and Potential
Investors looking at Craigmont’s real estate market can find potential in both the single-family home sector and the apartment market. The consistent rise in median prices suggests that purchasing property now could lead to substantial capital gains over time. With houses appreciating at a slightly higher rate than apartments, they present an attractive option for long-term investment and rental income opportunities.
Apartments offer a lower entry price point at $305,000, making them accessible to investors with various budget capacities. The steady growth rate also indicates a reliable investment with potential for rental income and appreciation.
Future Market Outlook
Looking ahead, the real estate market in Craigmont appears promising. The population growth rate is robust at 3.3%, which will likely contribute to ongoing demand for housing. If current trends persist, the residential market may continue to experience price appreciation across both houses and apartments.
However, investors should remain attentive to broader economic factors that can influence the real estate market such as interest rates changes, employment rates in the area, and any potential government policy shifts regarding housing and development.
In summary, Craigmont offers a dynamic real estate environment with positive trends that bode well for future investment prospects. As always, potential investors should conduct thorough due diligence and consider local market conditions when making investment decisions.
