Eldee, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $385,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| 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 in Eldee, Ontario
The real estate market in Eldee, Ontario, is currently experiencing steady growth. The median house price in the region stands at $495,000, reflecting a year-over-year increase of 4%. This suggests a healthy demand for housing and a robust market that has continued to appreciate in value. Similarly, the median apartment price is $295,000, with a slightly lower growth trend of 2.5% year-over-year. The difference in growth rates between houses and apartments might indicate a stronger preference or demand for single-family homes.
Eldee’s population has been growing at a rate of 4.8%, which is significantly higher than the national average. This influx of residents can be attributed to several factors such as employment opportunities, quality of life, and affordability compared to larger urban centers. The population growth is an important driver for housing demand and contributes to the upward pressure on property values.
Investment Opportunities and Potential in Eldee
Given the consistent rise in property values and population growth, Eldee presents attractive investment opportunities for both residential and rental markets. Investors can capitalize on the increasing demand for housing driven by the growing population. Single-family homes represent a particularly promising segment due to their higher appreciation rate.
For those interested in the rental market, the steady population increase suggests a potentially robust tenant pool. With apartment prices rising at a slower rate than houses, investors may find more accessible entry points into the market while still benefiting from asset appreciation over time. The ongoing demand could also lead to favorable rental yields.
Future Market Outlook for Eldee Real Estate
Looking forward, the real estate market in Eldee appears poised for continued growth. Population trends are expected to remain strong due to ongoing regional development and migration patterns favoring smaller communities that offer a blend of lifestyle and affordability.
The sustained increase in property values indicates confidence in the local real estate market’s stability and long-term potential. However, investors should monitor economic indicators such as employment rates, interest rates, and regional development plans as they can significantly impact future market dynamics.
In conclusion, the Eldee real estate market shows promising signs for both homebuyers and investors with current trends leaning towards progressive growth. Making informed decisions based on continuous monitoring of market conditions will be key to capitalizing on this region’s real estate opportunities.
