Drumbo, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
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 | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 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
1. Current Market Conditions and Trends
The real estate market in Drumbo, Ontario, is currently experiencing a steady increase in property values. The median house price stands at $520,000, reflecting a year-over-year growth of 4%. This indicates a healthy demand for houses in the area, which may be driven by Drumbo’s attractive living conditions and amenities.
In contrast, the apartment sector is witnessing a more modest increase with the median apartment price at $310,000, growing at 2.5% year-over-year. This differential growth rate suggests that while there is interest in more affordable housing options like apartments, the demand is not as robust as for standalone houses.
With a population of 15,500, which has grown by 3.3%, there is an infusion of new residents contributing to the vitality of the local real estate market. This demographic expansion can be attributed to various factors including local economic opportunities and quality of life enhancements.
2. Investment Opportunities and Potential
The steady growth in house prices combined with continuous population expansion positions Drumbo as an appealing option for real estate investment. The solid increase in house prices indicates a persistent upward trend which may be attractive to investors looking for appreciation potential.
Apartments represent an opportunity for investors targeting a different segment of the market—those seeking more affordable living spaces or rental accommodations. The slower growth rate may signal a chance to enter the market at a lower price point before potential acceleration in apartment values aligns with broader housing market trends.
The current demographic and economic dynamics suggest that investment in Drumbo’s real estate could be particularly lucrative for those focusing on long-term rental properties or residential developments catering to the growing population.
3. Future Market Outlook
The positive trends observed in Drumbo’s housing market are likely to persist given the underlying population growth and economic stability. Assuming these conditions continue, we can anticipate further appreciation in property values for both houses and apartments, with houses potentially seeing higher gains due to stronger current demand trends.
An important consideration for future outlook is regional infrastructure development and employment opportunities which could reinforce Drumbo’s attractiveness as a residential hub. Additionally, broader national economic factors such as interest rates and lending policies will also play critical roles in shaping the trajectory of Drumbo’s real estate market.
For potential investors or homebuyers, keeping an eye on local developments and national economic indicators will be key to making informed decisions within this active market environment.
