Enfield, 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 Enfield, Ontario is currently experiencing steady growth. The median house price stands at $500,000, marking a year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes within the region. Similarly, apartments are also witnessing growth with the median price at $300,000, which translates to a 2.1% increase from the previous year.
The population of Enfield has risen to 15,000 residents, showcasing a significant growth rate of 7.1%. This demographic expansion is fueling the housing demand and can be correlated with the positive trends observed in property values.
Investment Opportunities and Potential
The current market conditions suggest that investment opportunities in Enfield are ripe. Given the consistent growth in housing prices, investors might find single-family homes particularly attractive for long-term capital gains. Despite the lower percentage increase in apartment prices, their affordability makes them an appealing option for investors targeting rental income, especially considering the growing population that may lead to higher rental demand.
The town’s ongoing population growth can be seen as a sign of economic vitality which may attract further development and enhance property values over time. Investors should also consider potential infrastructure projects or changes in local regulations that could impact future property values.
Future Market Outlook
Looking ahead, Enfield’s real estate market is expected to maintain its upward trajectory. The combination of steady price increases and robust population growth bodes well for the stability and potential appreciation of property values in the area. If current trends persist, investors can anticipate continued growth which suggests a favorable outlook for both residential and rental markets.
However, it is important for investors to remain informed about any economic changes or policy adjustments that could influence market dynamics. Staying abreast with local developments will be crucial in making informed investment decisions in Enfield’s evolving market landscape.
