Crediton, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Crediton, Ontario
The real estate market in Crediton, Ontario is currently characterized by a steady growth with the median house price standing at $500,000, reflecting a 3.5% year-over-year increase. This incremental rise indicates a stable and moderately competitive market environment. The median apartment price has also seen an upward trend at a rate of 2.1% year-over-year, with current values averaging around $300,000. Such trends suggest a consistent demand for housing in the area.
The population of Crediton has been experiencing significant growth, currently at 15,000 with a notable increase of 7.1%. This demographic expansion can be attributed to various factors including the town’s economic prospects, quality of life, and its appeal to both working professionals and retirees seeking a blend of rural charm and urban conveniences.
Investment Opportunities and Potential in Crediton
Given the steady growth in property values and the substantial population increase, Crediton presents promising investment opportunities. The consistent rise in house prices indicates a strong potential for capital gains for those looking to invest in residential properties. Moreover, the growing demand for housing suggests that rental properties could also yield favorable returns.
Investors might consider diversifying their portfolios by acquiring both single-family homes and apartments to cater to different segments of the market. The current trends show that while houses are appreciating slightly faster than apartments, both asset types are moving on an upward trajectory which is positive for long-term investments.
Future Market Outlook for Crediton
The outlook for Crediton’s real estate market appears positive with expectations of continued growth aligned with the rising population trend. As more people are drawn to the area for its economic opportunities and lifestyle offerings, demand for housing is likely to persist, potentially pushing property values even higher.
However, investors should remain aware of broader economic conditions that could impact interest rates and affordability which in turn may influence buyer activity. Additionally, any changes in local policies or infrastructure developments could further shape the future dynamics of Crediton’s real estate market.
In conclusion, while current signals point towards a robust market with healthy appreciation rates and investment potential, it is important for stakeholders to stay informed about regional developments and maintain a strategic approach to their real estate endeavors in Crediton.
