Dungannon, 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 (2025) | 15,000 |
Previous Population (2020) | 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 Dungannon, Ontario is currently experiencing a period of steady growth. The median house price stands at $500,000, which reflects a year-over-year increase of 3.5%. This consistent uptick suggests a stable demand for single-family homes in the area. Similarly, apartments are also garnering interest with a median price of $300,000 and a growth trend of 2.1% over the past year. The population of Dungannon is on the rise, with a notable growth rate of 7.1%, indicating an expanding community that could continue to drive housing demand.
Investment Opportunities and Potential
With the median house price at half a million dollars and showing modest but reliable appreciation, Dungannon presents attractive investment opportunities, particularly for those looking to invest in the single-family home segment. The positive trend in apartment prices also suggests that there is potential for investing in multi-family properties or developments catered towards individuals and smaller households. Given the strong population growth, there’s an implicit suggestion that rental demand may increase, which could benefit investors in rental properties.
Future Market Outlook
The future market outlook for Dungannon’s real estate appears promising. Continued population growth will likely maintain or even accelerate current housing demand trends. If economic conditions remain favorable and the town’s infrastructure supports this growth, we can anticipate ongoing appreciation in property values. However, investors and potential homebuyers should remain cognizant of broader economic factors that can influence mortgage rates and affordability, which in turn may affect the local real estate market dynamics.