Elginburg, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $510,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.8% |
| 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 | $425,000 |
| 3 bedrooms | $510,000 |
| 4 bedrooms | $615,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,100 |
| 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 Elginburg, Ontario is currently experiencing a period of steady growth. The median house price stands at $510,000, marking a 3.8% year-over-year increase. This suggests a healthy demand for homes in the area. Similarly, the apartment sector has seen a more modest but stable growth, with the median apartment price reaching $315,000 and witnessing a 2.5% year-over-year uptick. The population of Elginburg has been growing at a robust rate of 2.7%, further contributing to the demand for housing. This demographic trend is likely to continue supporting the real estate market.
Investment Opportunities and Potential
The current trends indicate that Elginburg offers promising investment opportunities, particularly in residential real estate. The consistent population growth paired with rising home prices suggests that there is ongoing demand for both ownership and rental properties. Investors may find potential in purchasing single-family homes or apartments to cater to newcomers and residents seeking upgrades. Additionally, the steady increase in property values could result in capital gains over the medium to long term. As such, both short-term rental strategies and long-term investment horizons appear favorable under the current market conditions.
Future Market Outlook
The outlook for Elginburg’s real estate market remains positive due to several factors. The continuous population increase indicates sustained demand which is likely to keep driving property values upward. Moreover, the current trends of property price increases are moderate, suggesting that the market is growing healthily without signs of overheating or forming bubbles. Assuming these trends hold and no major economic disruptions occur, investors can remain cautiously optimistic about the future performance of the Elginburg real estate market. Monitoring economic indicators and staying informed about local developments will be crucial for those looking to capitalize on this market’s potential.
