Dorking, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.4% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $365,000 |
| 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 in Dorking, Ontario
The real estate market in Dorking, Ontario, currently showcases a consistent growth pattern. With a median house price of $525,000 and an upward trend of 4% year-over-year, the market is demonstrating stability and moderate appreciation. This is an encouraging sign for homeowners and potential buyers who are looking to invest in the area.
The apartment sector also presents a positive trajectory, albeit at a slightly slower pace. The median apartment price stands at $320,000, with an annual appreciation of 2.5%. This growth rate indicates a steady demand for more affordable housing options and investment properties.
Dorking’s population has reached 15,500 residents and is continuing to grow at a healthy rate of 3.3% per year. The increasing population suggests ongoing demand for housing which could continue to push property values upward as supply tries to keep up with the growing need for residential accommodations.
Investment Opportunities and Potential in Dorking
For investors considering the Dorking real estate market, there is significant potential given the steady appreciation rates of both houses and apartments. The single-family home segment offers solid long-term growth prospects with a 4% annual increase in median prices. This segment is particularly appealing for those looking to acquire assets that are likely to benefit from the town’s rising population and corresponding demand.
Investment in apartments also presents an attractive opportunity, especially for those interested in catering to individuals or smaller households seeking more affordable living options or rental accommodations. With a 2.5% increase in median apartment prices year-over-year, this sector may attract investors looking for lower entry points into the real estate market and potentially higher rental yield ratios.
The town’s economic profile suggests that both rental and resale markets will remain vigorous due to the continuous population growth which fuels demand for housing.
Future Market Outlook for Dorking
The future outlook for the Dorking real estate market remains optimistic. As the population continues to expand at a rate of 3.3%, it can be expected that demand for housing will persistently rise, possibly outstripping current supply levels. This demographic trend could lead to increased competition among buyers, thereby exerting further upward pressure on property prices over time.
While current trends show healthy growth, prospective buyers and investors should monitor local economic conditions, interest rates, employment figures, and any new housing policies that could influence the market dynamics in Dorking. Keeping an eye on these factors will help stakeholders make informed decisions as they navigate what appears to be a promising but ever-changing real estate landscape.
In conclusion, based on current data and trends, Dorking’s real estate market holds considerable appeal for both residential buyers and investors looking towards medium to long-term capital gains. Vigilance towards macroeconomic indicators and local developments will be key in maximizing potential returns within this vibrant market.
