Creditville, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.3% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $365,000 |
| 3 bedrooms | $475,000 |
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 Creditville, Ontario is currently experiencing steady growth. With a median house price of $520,000, there has been a year-over-year increase of 4%. This indicates a healthy appreciation rate that reflects the growing demand for housing in the area. Similarly, apartments are demonstrating resilience with a median price of $310,000 and a year-over-year trend increase of 2.3%. When combined with the population growth of 3.3%, the current market conditions suggest that Creditville is attracting an increasing number of residents, likely driven by factors such as employment opportunities, quality of life, and investment potential.
Investment Opportunities and Potential
Investors might find attractive opportunities in Creditville’s real estate market. The steady growth in house prices presents a potential for capital gains over the long term. Rental properties also offer an interesting prospect given the solid population growth rate of 3.3%, suggesting an expanding tenant base. The difference in appreciation rates between houses and apartments could indicate a more substantial demand for single-family homes, which might provide higher rental yields or resale values for investors focusing on this type of property. However, the growth in apartment prices should not be overlooked as it ensures diversification possibilities for investors interested in catering to different market segments.
Future Market Outlook
The outlook for Creditville’s real estate market remains optimistic based on current trends and demographic data. Assuming consistent economic conditions, population trends are expected to continue to fuel demand for both ownership and rental properties. The ongoing appreciation rates suggest that home values will maintain an upward trajectory, albeit potentially at a moderated pace as affordability becomes an increasingly important consideration for new buyers entering the market. Key factors to monitor going forward include local economic developments, interest rate changes which could affect mortgage affordability, and any shifts in housing policy that could impact investment attractiveness or home availability.
