Elora, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.5% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.4 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Elora, Ontario is currently experiencing steady growth. With a median house price of $500,000 and an annual appreciation rate of 4%, the housing sector shows a stable upward trend. Apartments are also seeing a positive trajectory with a median price of $320,000 and a year-over-year increase of 2.5%. These trends reflect a healthy demand for residential properties in the area.
The population of Elora stands at 15,000 with a robust growth rate of 3.45%. This rapid population expansion supports the ongoing demand for housing and suggests that the market will remain buoyant for the foreseeable future. This demographic trend, coupled with low interest rates and an attractive small-town ambiance, continues to draw buyers to Elora.
Investment Opportunities and Potential
Investors considering Elora will find promising opportunities, especially in the residential sector. The steady growth in property values indicates that investments made today have good potential for capital appreciation. Additionally, the strong population growth could lead to increased rental demand, which may benefit investors looking for income-generating properties.
The more moderate appreciation rate for apartments compared to houses suggests that there may be greater long-term investment potential in single-family homes. However, apartments can still provide a valuable entry point into the market or serve as an attractive option for those seeking lower maintenance investments.
Future Market Outlook
The outlook for Elora’s real estate market remains optimistic. The consistent increase in property values is expected to continue given the town’s growing population and its appeal as a desirable place to live. The current economic indicators and demographic data suggest that Elora’s housing market will maintain its upward trajectory over the next several years.
However, investors should remain mindful of broader economic factors that could influence local real estate conditions, such as changes in interest rates or regional economic shifts. Despite these potential variables, Elora’s strong community appeal and steady population influx appear to provide a solid foundation for sustained market growth.
