Dornoch, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| 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 | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 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 Dornoch, Ontario is currently experiencing a period of steady growth. With a median house price of $520,000, the market has seen a 4% year-over-year increase. This indicates a consistent appreciation in property values, which is an encouraging sign for homeowners and investors alike. The median apartment price stands at $310,000, with a slightly less aggressive yet positive trend of 2.5% year-over-year growth. These statistics suggest that the market is healthy and growing at a sustainable pace.
The area’s population has reached approximately 15,500 residents, showing a robust growth rate of 3.3%. This demographic expansion can be attributed to Dornoch’s appeal to families and professionals seeking a balanced lifestyle outside of the major urban centers. The population increase is likely contributing to the demand for housing, thereby supporting the growth in property values.
Investment Opportunities and Potential
Dornoch’s real estate market presents various investment opportunities. The steady appreciation in home values offers potential for long-term capital gains for investors focused on residential properties. Given the population’s growth trajectory and the sustained increase in housing prices, investing in rental properties could also be lucrative. Rental demand is expected to remain strong, which may result in favorable rental yields and low vacancy rates.
Moreover, as the median apartment price trends show lower growth compared to houses, there might be untapped potential in the condominium and apartment sector. Investors could capitalize on this segment by targeting first-time homebuyers or downsizers looking for more affordable housing options within the community.
Future Market Outlook
The future outlook for Dornoch’s real estate market appears optimistic. The current trends of moderate price increases and population growth are expected to continue, barring any unforeseen economic events. As more people move to Dornoch seeking affordable living options outside urban areas, demand for housing should sustain market momentum.
Furthermore, as infrastructure improvements and community developments progress, these factors may further enhance Dornoch’s desirability as a place to live and invest in. Investors should monitor local economic indicators, interest rates, and national real estate policies that could impact future market conditions. Nonetheless, based on current data points and trends, Dornoch’s real estate outlook is positive for both buyers and investors over the coming years.
