Erbsville, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $530,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $530,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Erbsville, Ontario
In Erbsville, Ontario, the real estate market is currently experiencing steady growth. The median house price stands at $530,000, with a year-over-year increase of 4%. This indicates a healthy demand for housing in the area, as well as a market that has been resilient to external economic pressures.
Apartments in Erbsville are also showing an upward trend with the median price at $320,000 and an annual growth rate of 1.9%. This slower growth compared to houses suggests a more modest demand for apartments or potentially a greater supply relative to demand.
The local population has witnessed a significant increase of 3.3%, which is likely contributing to the sustained property demand. With rising population figures, housing needs are expected to continue on an upward trajectory as new residents seek accommodation.
Investment Opportunities and Potential in Erbsville
The consistent growth in housing prices coupled with a strong population increase suggests that Erbsville holds promising investment opportunities. Single-family homes have shown robust appreciation and could be of particular interest to investors looking for long-term capital gains.
Apartments also present potential for investors targeting a more affordable entry point into the real estate market. With their lower price point and steady appreciation, apartments may appeal to both renters and buyers, offering opportunities for rental income and eventual resale profits.
With the ongoing population growth, demand for both rental and owned properties is expected to remain high, potentially driving further price increases across different types of housing within the market.
Future Market Outlook for Erbsville Real Estate
The future outlook for Erbsville’s real estate market appears positive. Assuming ongoing population growth and economic stability, housing demand should remain strong. The consistent appreciation of house prices suggests confidence in the local market’s stability and potential for continued growth.
However, investors should remain cognizant of broader economic factors that could impact interest rates and affordability. Monitoring these factors will be crucial in making informed investment decisions moving forward.
In conclusion, while current trends point towards a robust market with ample opportunity for investment, vigilance regarding external economic conditions will be key in navigating the future landscape of Erbsville’s real estate market.
