Durham, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $800,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.5% |
Apartment
| Median price | $450,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $600,000 |
| 3 bedrooms | $800,000 |
| 4 bedrooms | $950,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $350,000 |
| 2 bedrooms | $450,000 |
| 3 bedrooms | $550,000 |
Demographics
| Current Population (2025) | 40,000 |
| Previous Population (2020) | 38,500 |
| Population Change | 3.9% |
| Total Private Dwellings | 15,000 |
| Occupied Private Dwellings | 14,000 |
| Population Density (per km²) | 2.5 |
| Land Area (km²) | 3,000.0 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Durham, Ontario is exhibiting stable growth, as reflected in the rising median house prices which currently stand at $800,000, marking a 2.8% year-over-year increase. Similarly, the median apartment price has seen a moderate rise to $450,000, with a 1.9% year-over-year uptrend. These figures suggest that the market is experiencing a steady pace of appreciation, making it an attractive area for homeowners and investors alike. The population growth rate of 3.9% further supports the thriving market conditions, indicating a continuous demand for housing fueled by an increasing number of residents.
Investment Opportunities and Potential
The ongoing population expansion in Durham, which currently boasts a population of 40,000 people, coupled with the consistent upward trajectory in property values, presents significant investment opportunities. Investors can capitalize on the growing market by engaging in both residential and rental properties. Given that the appreciation rates are hovering around 2-3%, investments in real estate here are likely to yield favorable returns over time. Additionally, rental properties may benefit from the burgeoning demand driven by new residents seeking accommodation in the region.
Future Market Outlook
The future real estate market outlook for Durham is positive. The sustained population growth at 3.9% indicates that the demand for housing will continue to rise, potentially pushing property values higher. This demographic trend suggests that Durham will maintain its appeal as a residential destination, thereby bolstering real estate investments. While current trends point towards ongoing growth, potential investors should remain cognizant of macroeconomic factors and local developments that could affect market dynamics.
