Doon, 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 (2024) | 15,000 |
| Previous Population (2019) | 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
The real estate market in Doon, Ontario, is currently experiencing steady growth as indicated by the latest market data. The median house price is sitting at $500,000, with a year-over-year increase of 3.5%. This suggests a healthy demand for detached homes in the area. Similarly, apartments are also seeing an appreciation in value, with the median price at $300,000 and trending upwards at a rate of 2.1% year-over-year.
The population of Doon has been growing at a substantial rate of 7.1%, which reflects positively on the local economy and contributes to the increasing demand for housing. The steady price trends and population growth indicate that the market is currently robust and likely to remain so in the near future.
Investment Opportunities and Potential
Considering the solid growth in housing prices and the significant increase in population, Doon presents attractive investment opportunities for both residential and rental properties. The consistent rise in house prices suggests that purchasing property could yield substantial capital gains over time. Investors might also explore opportunities in developing multi-family units or apartment buildings to cater to the growing population which currently stands at 15,000 residents.
Rental properties could provide a stable income stream given the increasing number of people moving into the area seeking accommodation. With the right property management strategies, investors can capitalize on the lower median apartment price relative to houses to offer affordable rental options.
Future Market Outlook
The future outlook for Doon’s real estate market appears promising. The ongoing population growth will continue to drive demand for housing, keeping prices on an upward trajectory. As long as the economic conditions remain favorable and infrastructure development keeps pace with population increases, Doon’s real estate market is expected to maintain its health.
The previous trends of gradual price increases for both houses and apartments suggest that any investment made today would likely appreciate over time. However, investors should monitor regional economic factors and potential policy changes that may impact property values. Other considerations include keeping an eye on interest rates and employment levels which are pivotal factors influencing buyer affordability and overall market health.
