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Elphin, 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 (2025) 15,000
Previous Population (2020) 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





Elphin, Ontario Real Estate Market Analysis

Current Market Conditions and Trends

In Elphin, Ontario, the real estate market is currently experiencing steady growth. The median house price in the region stands at $500,000, with a positive year-over-year trend of 3.5%. This indicates a healthy demand for single-family homes and an upward movement in property values. Similarly, the apartment sector is also seeing growth, albeit at a slightly slower pace. The median apartment price is currently $300,000, with an annual appreciation trend of 2.1%. Given these figures, the market is showing signs of stability and controlled growth.

The population of Elphin has recently reached approximately 15,000 residents, with a robust growth rate of 7.1%. This demographic expansion can be linked to the increasing property values as more people are seeking residence in this developing area.

Investment Opportunities and Potential

The consistent appreciation in property values presents promising opportunities for real estate investors in Elphin. Single-family homes are particularly attractive investments due to their higher growth percentage. With a year-over-year increase of 3.5%, they offer greater potential for capital gains compared to apartments.

Apartments also present a viable investment opportunity, especially for those looking to enter the market at a lower price point. The steady 2.1% rise in apartment prices indicates a stable rental market that could appeal to investors seeking long-term income properties.

The ongoing population growth suggests that there will be continued demand for housing in both purchase and rental segments. This demographic trend provides investors with confidence about the sustainability of their investments over time.

Future Market Outlook

The future real estate market outlook for Elphin is optimistic based on current trends and data. As the population continues to grow at a significant rate, demand for housing is expected to remain strong or even increase. If current economic conditions persist and no major shifts occur in interest rates or employment levels within the region, it’s likely that property values will continue their gradual ascent.

Investors should monitor local developments closely, such as infrastructure projects or changes in zoning laws, which could impact future property values. Additionally, keeping an eye on broader economic indicators will be crucial for predicting any shifts in market conditions.

In summary, Elphin’s real estate market offers potential for both short-term gains through property flipping and long-term investment through rental properties. However, as with any investment, it is essential to conduct thorough research and consider all factors before making commitments.