Duncrief, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $325,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Duncrief, Ontario, is currently experiencing steady growth. With a median house price of $525,000, the market has seen an appreciable year-over-year increase of 4%. This consistent growth indicates a healthy demand for homes in the area. Similarly, the median apartment price stands at $325,000, which is also following an upward trend with a 2.5% rise year-over-year.
The population of Duncrief has reached approximately 15,500 residents, growing at a rate of 3.3%. This increase in residents is contributing to the demand for housing and suggests that the market is expanding due to both new entrants and existing residents looking for new or upgraded housing options.
Investment Opportunities and Potential
Duncrief’s real estate market presents promising opportunities for investors. The solid growth in property values coupled with sustainable population increases lay the groundwork for potentially lucrative investment ventures. Long-term investors might take particular interest in houses due to their higher annual appreciation rate compared to apartments. However, apartments should not be overlooked as they offer a lower entry point into the market and are also appreciating steadily—appealing to both investors seeking rental properties and first-time homebuyers.
In addition to purchasing properties outright, there may also be opportunities for development projects aimed at catering to the growing population’s housing needs. As the population increases, so does the need for diverse housing options, which could include townhouses, semi-detached homes, or purpose-built rental buildings.
Future Market Outlook
The future outlook of Duncrief’s real estate market appears positive based on current trends and demographic data. The sustained population growth suggests that demand for housing will continue, potentially driving property prices up further if the supply does not keep pace with demand. The steady appreciation in house and apartment prices over the past year indicates that there is ongoing confidence in the local real estate market.
However, potential investors and current homeowners should remain attentive to broader economic factors that could influence mortgage rates, employment levels, and overall affordability—all of which could impact future real estate performance in Duncrief.
In conclusion, Duncrief offers a stable environment with potential for continued growth in its real estate market. Investors and homebuyers looking towards medium to long-term horizons may find this market particularly attractive given its recent performance and demographic trends.
