Dunnville, 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 Dunnville, Ontario, currently presents a stable investment landscape. With a median house price of $500,000, the market has experienced a moderate year-over-year growth of 3.5%. This increment is indicative of a healthy demand that aligns with the national trends, suggesting a balanced market that benefits both buyers and sellers.
The median apartment price in Dunnville stands at $300,000, with a more modest increase of 2.1% compared to the previous year. This slower pace in the apartment sector suggests that single-family homes are potentially more sought after within this community or that there may be an increased availability of apartments.
The local population of approximately 15,000 residents has grown by 7.1%. Such significant population growth can be an indicator of economic opportunities in the area, which could lead to increased demand for housing in the near future.
Investment Opportunities and Potential
Dunnville’s real estate market offers attractive opportunities for investors. The steady growth in house prices indicates room for potential capital appreciation. Investors might want to focus on single-family homes given their higher rate of price increase compared to apartments.
In light of the robust population growth, there is likely to be a sustained demand for rental properties. As such, purchasing rental properties could be a wise strategy for long-term investment. Additionally, given the lower price point and smaller increase in apartment prices, investing in multi-unit residential buildings could cater to those seeking more affordable housing options amidst an expanding population.
Future Market Outlook
The future outlook for Dunnville’s real estate market remains cautiously optimistic. The consistent upward trend in housing prices coupled with substantial population growth suggests that demand will continue to rise. However, investors and homebuyers should be mindful of broader economic conditions that may impact interest rates and affordability.
If current trends continue and the local economy supports job creation commensurate with population increases, we can anticipate continued growth in property values. Nonetheless, as with any investment, it is essential to monitor market conditions closely to respond promptly to any shifts in the economic landscape affecting real estate.