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) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Erieau, Ontario currently exhibits stable growth, with the median house price standing at $500,000, marking a year-over-year increase of 3.5%. This consistent uptick in housing prices reflects a healthy demand for residential properties in the area. Similarly, the apartment sector is also experiencing growth, albeit at a slightly slower pace, with the median apartment price reaching $300,000 and a year-over-year trend of 2.1%.
The population of Erieau has grown to 15,000 residents, a substantial increase of 7.1%. This demographic expansion contributes to the underlying demand for housing in the community and indicates active market conditions with potential for future real estate developments.
2. Investment Opportunities and Potential
In light of the current market trends, investment opportunities in Erieau are promising. The steady appreciation in property values suggests that investments in residential real estate could yield solid returns over time. Potential investors might focus on single-family homes given their stronger growth rate compared to apartments.
Additionally, the significant population growth presents opportunities for new housing developments and refurbishment projects to meet the increasing demand. Investors may also consider exploring the rental market due to an influx of new residents who may initially seek rental accommodations before purchasing homes.
3. Future Market Outlook
The future outlook for Erieau’s real estate market remains optimistic based on current trends and demographic indicators. Should the population continue to grow at or near the current rate of 7.1%, demand for housing is likely to remain robust, potentially driving further price increases and investment returns.
However, it’s important for investors and stakeholders to closely monitor broader economic factors and local developments that could impact market conditions. Factors such as interest rates, employment opportunities within Erieau or nearby regions, and government housing policies could affect future market dynamics.
In conclusion, Erieau presents an attractive market with steady growth indicators and positive prospects for both short-term gains and long-term investments in real estate.
