Erin, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $710,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.6% |
Apartment
| Median price | $420,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $600,000 |
| 3 bedrooms | $710,000 |
| 4 bedrooms | $850,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $350,000 |
| 2 bedrooms | $420,000 |
| 3 bedrooms | $500,000 |
Demographics
| Current Population (2025) | 16,000 |
| Previous Population (2020) | 15,500 |
| Population Change | 3.2% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Erin, Ontario
The real estate market in Erin, Ontario, is characterized by steady growth. With a median house price of $710,000, the market has seen a moderate increase of 2.8% year-over-year. This suggests a stable environment for homeowners and potential buyers. The median apartment price currently stands at $420,000, with a slightly lower growth rate of 1.5% year-over-year. These numbers indicate that while the growth in housing prices outpaces that of apartments, both segments are gradually appreciating.
Erin’s population of 16,000 is on an upward trajectory with a growth rate of 3.2%. This population increase is likely contributing to the demand for housing in the area, which in turn may be driving the steady appreciation in property values. Furthermore, as more people look towards suburban and rural communities post-pandemic for lower-density living options, towns like Erin are becoming increasingly attractive.
Investment Opportunities and Potential in Erin
Given the steady growth in property values and the increasing population, Erin presents several investment opportunities. The consistent rise in house prices reflects healthy demand and a robust market that could benefit long-term investors looking for capital gains. The slower growth rate of apartment prices compared to houses may offer an entry point for investors targeting rental markets or those seeking more affordable investment options.
The ongoing population increase can potentially lead to greater demand for rental properties as new residents seek temporary housing before purchasing homes. Investors could capitalize on this trend by investing in rental properties or exploring development opportunities to cater to this demographic.
Future Market Outlook for Erin
Looking ahead, Erin’s real estate market appears poised for continued growth. The town’s rising population suggests sustained demand for housing which could maintain or possibly even increase the current pace of price appreciation over time. As urban centers become more densely populated and expensive, towns like Erin stand to benefit from homebuyers seeking more space and affordability.
However, investors should also consider broader economic factors such as interest rates, employment trends within the region, and potential government policies affecting homeownership when evaluating the long-term outlook. Monitoring these factors will be crucial to understanding whether current trends are likely to persist.
In summary, while there are promising indicators for the real estate market in Erin, Ontario, investors should remain vigilant and informed about local and national economic shifts that could influence market dynamics.
