Elizabethtownkitley, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
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 | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The current real estate market in Elizabethtown-Kitley, Ontario, shows a steady growth trajectory. With a median house price of $525,000, the market has experienced a 4.2% year-over-year increase, indicating a healthy demand for residential properties. Similarly, the median apartment price now stands at $315,000, which has seen a more modest year-over-year rise of 3%. The slow but positive growth in property values suggests that the market is stable and growing at a sustainable rate.
The population of Elizabethtown-Kitley is approximately 15,200 and has been following an upward curve with a growth rate of 2.7%. This demographic trend is supportive of the real estate demand and can be seen as a contributing factor to the steady price increases. The balance between supply and demand seems to be well-maintained, with neither significant over-supply nor scarcity driving volatility in prices.
Investment Opportunities and Potential
Given the consistent upward trend in property values and the increasing population, Elizabethtown-Kitley presents several attractive investment opportunities. The incremental growth in house prices suggests that investors purchasing residential properties could expect capital gains over time. Furthermore, the rental market may also offer potential due to population growth driving demand for housing.
Investors considering entering the Elizabethtown-Kitley market should note that while there is potential for appreciation in property values, investment decisions should also consider local economic factors, infrastructure developments, and municipal planning initiatives that could impact future property valuations.
Future Market Outlook
The future real estate market outlook for Elizabethtown-Kitley looks promising based on current trends and underlying demographic factors. The consistent increase in property values aligns with the general health of the Ontario real estate market and reflects confidence from both buyers and investors.
As long as population growth continues at its current rate or higher, it is reasonable to anticipate ongoing demand for housing in both the private sale and rental markets. However, potential investors should remain vigilant about external economic factors such as interest rates, employment rates in nearby urban centers like Ottawa or Kingston, and any changes in provincial or federal housing policies that might affect affordability or investor activity.
In summary, while no investment comes without risk, Elizabethtown-Kitley’s real estate market currently presents itself as an area with solid fundamentals for both short-term gains through resale or rental income and long-term capital appreciation.
