Effingham, 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
In Effingham, Ontario, the real estate market is currently experiencing steady growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This trend suggests a stable and growing demand for single-family homes in the area. Similarly, the median apartment price is $300,000, with a slower yet positive year-over-year trend of 2.1%. The population of Effingham has reached approximately 15,000 residents, with a robust growth rate of 7.1%, which may be contributing to the ongoing demand for housing in the community.
Investment Opportunities and Potential
The investment potential in Effingham’s real estate market is promising due to its sustained growth and demographic expansion. Investors looking to capitalize on the housing market can find opportunities in both residential properties and rental apartments, given their respective appreciation trends. The strong population growth indicates a potential for increased rental demand, making multi-unit residential buildings an attractive option for investors. Furthermore, as housing prices continue to rise at a moderate pace, purchasing property in Effingham could offer long-term capital gains.
Future Market Outlook
The future outlook for Effingham’s real estate market appears optimistic. With continuous population growth fueling demand for housing, it is anticipated that both house and apartment prices may maintain their upward trajectories. The 3.5% increase in house prices demonstrates healthy market activity without signs of overheating, suggesting sustainable growth ahead. If the current trends persist alongside economic stability and supportive local policies, Effingham’s real estate market could remain an appealing destination for both homeowners and investors alike.