Ellisville, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Ellisville, Ontario, is currently experiencing steady growth. The median house price stands at $500,000, with a healthy year-over-year increase of 3.5%. Similarly, the apartment sector shows sustainable growth with a median price of $300,000 and a 2.1% year-over-year upward trend. These figures suggest that Ellisville’s real estate market is expanding at a moderate pace.
With a population of 15,000 and a significant population growth rate of 7.1%, there is an increasing demand for housing that is likely contributing to the appreciation in property values. This demographic expansion can be indicative of economic health and may represent an influx of new residents seeking employment or investment opportunities within the city.
Investment Opportunities and Potential
Investors considering Ellisville for real estate opportunities should note the consistent growth in property values across both houses and apartments. The positive price trend suggests that investments made in the current market have the potential for capital gains over time.
The robust population growth rate points to a continued demand for housing, which may lead to higher rental occupancy rates and potentially increased rental yields. This can be particularly advantageous for those looking to invest in apartment properties, especially if they cater to new residents who may initially seek rental accommodations before purchasing homes.
Furthermore, as the city expands, there could be opportunities for development projects to meet the rising housing demand. Investors may also explore commercial real estate ventures given that population growth often correlates with expanded services and retail needs.
Future Market Outlook
The future market outlook for Ellisville appears optimistic. The steady increase in property prices indicates an underlying confidence in the local real estate market and suggests that prices are likely to continue their upward trajectory barring any unforeseen economic downturns.
The significant population growth rate will likely remain a key driver of demand for both residential and commercial properties. As such, investors should monitor infrastructure developments and municipal planning initiatives that could further bolster property values.
It’s important for stakeholders to stay informed about regional economic trends, interest rates, and national real estate regulations that might influence Ellisville’s market dynamics. Given current trends and data points, Ellisville presents itself as an attractive location for both short-term investors looking to capitalize on rental markets and long-term investors banking on property appreciation.
