Dunedin, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| 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 | $520,000 |
| 4 bedrooms | $610,000 |
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 | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Dunedin, Ontario, the real estate market is demonstrating a steady growth pattern. The median house price stands at $520,000 with a year-over-year increase of 4.2%. This trend suggests a healthy demand for houses in the area. Conversely, apartments are showing a more modest growth rate of 2.5% year-over-year with a median price of $310,000. This indicates that while there is an appreciation in the apartment sector, it is growing at a slower pace compared to houses.
The population of Dunedin has experienced significant growth at a rate of 3.3%, which can be indicative of several factors such as economic opportunities and quality of life that are attracting new residents to the area. This influx could be contributing to the sustained demand in the housing market.
Investment Opportunities and Potential
The continuous increase in property values presents an appealing opportunity for real estate investors. With house prices rising at a moderate pace, there is potential for capital gains over time. The slower growth in apartment prices also suggests that there might be opportunities to enter the market at a lower price point, which could be particularly attractive for first-time investors or those looking to secure rental properties.
The consistent population growth adds another layer of investment potential as it may lead to higher demand for rental properties. Investors could see this as an opportunity to cater to new residents who may be looking for temporary accommodation before purchasing their own homes.
Future Market Outlook
The future outlook for Dunedin’s real estate market remains optimistic due to ongoing population growth and sustained demand for housing. If current trends persist, we can expect both sectors—houses and apartments—to continue appreciating, albeit at different rates.
The local economy and demographic trends will play critical roles in shaping the future real estate landscape of Dunedin. Should the area continue to attract new residents and maintain its economic stability, the market will likely remain robust with continued opportunities for investment and growth.
