Erieau, 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) | 6.0 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Erieau, Ontario
The real estate market in Erieau, Ontario currently displays a stable growth pattern. The median house price in the area is $500,000, reflecting a moderate year-over-year increase of 3.5%. This suggests a steady demand for housing, likely driven by both local buyers and those looking to relocate to the region. Similarly, the median apartment price stands at $300,000 with a slower growth rate of 2.1% year-over-year. This differential in growth rates indicates that single-family homes may be experiencing a slightly higher demand compared to apartments.
Another significant factor influencing the Erieau real estate market is the population growth of 7.1%. This substantial increase in residents is likely contributing to the sustained demand for housing and could be an indicator of economic expansion within the community, which typically correlates with increased property values over time.
Investment Opportunities and Potential
Erieau’s real estate market offers promising investment opportunities, particularly due to its consistent population growth and steady appreciation in property values. For investors looking at long-term capital gains, purchasing single-family homes could be advantageous given their higher annual appreciation rate compared to apartments. Rental properties also present potential for consistent income streams, considering the influx of new residents searching for housing.
Moreover, with relatively affordable median prices for both houses and apartments when compared to larger urban centers, Erieau provides an accessible entry point for first-time investors or those seeking to diversify their portfolio into smaller markets with growth potential.
Future Market Outlook
The future market outlook for Erieau looks optimistic based on current trends and data. The steady population growth of 7.1% is expected to continue fueling demand for housing in both the purchase and rental sectors. As more individuals move to the area seeking employment opportunities or a quieter lifestyle away from larger cities, this trend could potentially lead to tighter housing inventories and further upward pressure on prices.
The consistent year-over-year price increases for both houses and apartments suggest that Erieau’s real estate market has not yet reached its peak and may continue to offer favorable conditions for both homebuyers and investors. However, as all markets are subject to external economic factors, it’s recommended that prospective buyers and investors monitor broader economic indicators as well as local developments that could impact market dynamics.
In conclusion, with careful consideration of market conditions and due diligence on specific investment opportunities, stakeholders can potentially benefit from the growing Erieau real estate market.
