Craigmont, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
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 | $625,000 |
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 | 5,800 |
| 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 a steady growth in property values. The median house price stands at $525,000, which reflects a year-over-year increase of 4.2%. This rise indicates a healthy demand for houses in the area, likely fueled by the town’s growing population, which has recently seen a 3.3% growth rate.
Similarly, the apartment market is also showing positive momentum with a median price of $320,000 and a more modest annual appreciation rate of 2.5%. This difference in growth rates between houses and apartments may suggest that single-family homes are currently more sought after in this market.
Investment Opportunities and Potential
The sustained growth in property values coupled with the significant population increase positions Craigmont as an attractive location for real estate investment. The consistent appreciation of house prices at over 4% suggests that investments in residential properties could yield fruitful returns over time.
Apartments offer an alternative investment route with a slightly lower entry price point and appreciation rate, potentially appealing to investors looking for long-term rental income opportunities. With the population on the rise, demand for rental properties is expected to grow, which could lead to an increase in rental yields and property values for apartment owners.
Future Market Outlook
Craigmont’s real estate market outlook appears optimistic given the current trends. If the local economy continues to thrive and support the population growth of 3.3%, housing demand is likely to remain strong. Investment in infrastructure and community services by local authorities could further enhance this positive trajectory.
The ongoing development of residential areas and potential attractiveness to newcomers seeking a suburban lifestyle may continue to drive up house prices. However, it is essential for potential investors to monitor economic indicators such as employment rates, interest rates, and regional developments that could impact the market dynamics.
In summary, Craigmont presents a promising market with solid growth in real estate values and a positive outlook contingent on sustained economic health and demographic trends.
