Eganville, 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 Eganville, Ontario is currently experiencing steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This trend indicates a healthy demand for housing in the area. Similarly, the median apartment price stands at $300,000, with a slightly lower growth rate of 2.1% year-over-year. This difference in growth rates suggests that while both sectors are expanding, houses are in higher demand compared to apartments.
The population of Eganville has reached 15,000 residents and is growing at a notable rate of 7.1%. This rapid population increase is likely contributing to the demand for housing and creating a dynamic market environment.
Investment Opportunities and Potential
Given the positive trends in property value appreciation and significant population growth, Eganville presents attractive investment opportunities. The steady increase in house prices may appeal to investors looking for long-term capital gains. Additionally, the demand for rental properties is expected to rise alongside population growth, potentially offering favorable returns for those investing in apartment buildings or becoming landlords.
Since the market is not experiencing an explosive boom but rather consistent growth, there may be opportunities for investors to enter the market without facing the high competition levels seen in larger metropolitan areas. This could allow for more strategic purchases and potential for negotiating better deals.
Future Market Outlook
The future outlook of Eganville’s real estate market appears optimistic. If current trends continue, the sustained increase in property values coupled with ongoing population growth could maintain or even boost the local real estate market’s vitality. However, potential investors and homeowners should monitor economic factors such as employment rates, infrastructure developments, and interest rates as they can significantly impact market conditions.
Assuming no major economic disruptions occur, the local real estate market is poised for continued steady growth. Investors and homebuyers can reasonably expect that properties purchased today will appreciate over time, making Eganville an appealing option for both residential living and real estate investment.
