Edgar, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Edgar, Ontario is currently characterized by a steady growth in property values. The median house price stands at $500,000 with a year-over-year increase of 3.5%. This indicates a healthy demand for housing and a competitive market environment. Similarly, the apartment sector is also showing positive trends, with the median apartment price at $300,000 and growing at a slightly lower rate of 2.1% year-over-year.
The sustained growth in property values is reflective of broader market confidence and may be attributed to Edgar’s attractive living conditions, amenities, and economic opportunities. Given the ongoing trends, buyers are entering a market with reasonable appreciation potential, while sellers benefit from the steady increase in asset value.
Investment Opportunities and Potential
With Edgar’s population expanding at a rate of 7.1%, significant investment opportunities are emerging. This robust population growth suggests an increasing demand for housing which could drive real estate prices upward. Investors might see potential in both the residential housing and apartment sectors due to sustained price increases.
The median house price being half a million dollars indicates an accessible market for investors looking to purchase single-family homes for rental or resale purposes. Investment in apartments could also be lucrative given their lower entry price point at $300,000; providing opportunities for rental income as well as long-term capital appreciation.
An important consideration for investors is the community’s infrastructure development and economic diversification that could bolster future property values. Identifying areas within Edgar poised for development or revitalization could yield significant returns on investment.
Future Market Outlook
The future of Edgar’s real estate market appears promising given the current trends and demographic data. Assuming no major economic disruptions, the steady growth in housing prices is likely to continue, supported by the robust population increase.
A key factor that may influence future market dynamics is local government policy regarding housing development and land use. If policies remain favorable towards development, there could be an uptick in new construction to meet the rising demand caused by population growth.
In summary, Edgar’s real estate market shows potential for continued growth and offers various opportunities for investors. Ongoing monitoring of economic indicators and policy developments will be crucial to fully understand and capitalize on Edgar’s real estate trajectory.
