Edgar, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $518,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $430,000 |
| 3 bedrooms | $518,000 |
| 4 bedrooms | $650,000 |
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 Edgar, Ontario is experiencing steady growth. The median house price in the area is currently $518,000, which marks a year-over-year increase of 4.2%. This indicates a healthy demand for housing in the region and reflects a continued upward trend in property values. Similarly, the median price for apartments stands at $315,000, with a more modest annual increase of 2.5%. These figures suggest that the market is growing but remains accessible to a range of buyers.
With a population of 15,500 and a robust population growth rate of 3.3%, Edgar is becoming an increasingly attractive destination for individuals and families looking for residential opportunities outside of larger urban centers. The demand for housing is expected to maintain its upward trajectory as the population grows.
Investment Opportunities and Potential
The continual growth in both property values and population presents numerous investment opportunities. Single-family homes remain a sound investment due to their consistent appreciation in value, reflected by the 4.2% increase over the past year. The apartment sector also shows promise with its 2.5% growth rate, appealing to investors interested in catering to individuals or small families who prefer more compact living spaces or cannot yet afford to enter the housing market.
Given Edgar’s growing population and increasing demand for housing, investors might also consider exploring new construction projects or renovating existing properties to accommodate the need for modern living spaces. Rental properties are another avenue worth considering as they could provide steady income streams given the influx of residents and limited housing supply.
Future Market Outlook
The future market outlook for Edgar, Ontario appears optimistic. Given the area’s sustained population growth and increasing property values, it is reasonable to expect that these trends will continue in the near future. Should these trends persist, long-term investments may see significant appreciation in value.
Additionally, as other nearby regions become saturated or overly expensive, Edgar’s comparatively affordable property prices may attract more homebuyers and investors alike. It will be important for stakeholders to monitor infrastructure developments and local economic policies as these factors will play crucial roles in shaping the real estate market’s trajectory.
In conclusion, Edgar’s real estate market offers promising opportunities for both residential buyers and investors. With strategic planning and attention to ongoing demographic shifts, stakeholders can capitalize on this burgeoning market.
