Drayton, 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 Drayton, Ontario, is currently experiencing a period of growth, as indicated by the year-over-year increase in housing prices. With a median house price sitting at $500,000, the market has seen an appreciation of 3.5% over the past year. This trend suggests a healthy demand for homes in the area.
In the apartment sector, Drayton also shows positive momentum with a median apartment price of $300,000. Apartments have seen a more modest yet steady increase of 2.1% year-over-year, implying stability in this segment of the market.
The population of Drayton stands at approximately 15,000 residents, with a significant growth rate of 7.1%. This demographic expansion is likely contributing to the sustained demand for housing in the region.
Investment Opportunities and Potential
The current trends indicate that Drayton presents several promising investment opportunities for both residential properties and rental units. The consistent rise in house prices points towards long-term capital gains for investors looking to purchase residential properties. Moreover, the steady growth in apartment prices could be appealing for those interested in investing in rental properties or entering the buy-to-let market.
The ongoing population growth further bolsters the potential for real estate investment in Drayton. As more people move into the area, demand for housing is expected to remain robust, which should keep occupancy rates high and provide investors with a reliable income stream from rental properties.
Future Market Outlook
The future outlook for Drayton’s real estate market remains optimistic. Given the current trends and population growth, it is reasonable to anticipate continued appreciation in property values over the coming years. This projection is subject to economic factors such as interest rates, employment levels, and regional development initiatives that could influence buyer sentiment and purchasing power.
Investors and homeowners alike may find confidence in the resilience of Drayton’s real estate market. However, it is crucial to remain informed about local and national economic conditions that could impact market dynamics. Keeping abreast of zoning changes, infrastructure developments, and government housing policies will also be essential for accurately forecasting future trends in Drayton’s real estate landscape.
