Elmvale, 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 Elmvale real estate market is currently exhibiting steady growth, as evidenced by a consistent increase in property values. The median house price stands at $500,000, reflecting a year-over-year growth of 3.5%. This trend suggests a healthy demand for residential properties, likely driven by the town’s appeal to families and professionals seeking community-oriented living outside of urban centers. Similarly, the median apartment price has reached $300,000, with a more modest year-over-year increase of 2.1%, indicating a stable market for smaller dwellings and investment properties such as condos or rental units.
Investment Opportunities and Potential
Investors looking at Elmvale may find promising opportunities due to the consistent growth in property values and the expanding population, which has recently seen an increase of 7.1%. The rise in population suggests a growing rental market, which could be lucrative for those looking to invest in apartment buildings or convert single-family homes into multi-tenant properties. Given the current trends, investing in real estate within Elmvale presents potential for both capital appreciation and rental income.
Future Market Outlook
The future outlook for the Elmvale real estate market remains optimistic. Population growth usually drives housing demand, and with a significant 7.1% increase in residents, it is reasonable to expect that both the rental and buyer markets will continue to expand. The sustained upward trend in house and apartment prices indicates that Elmvale’s market is likely to remain robust in the foreseeable future, making it an attractive destination for homebuyers and investors alike.
