Erin, 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 (2025) | 15,000 |
| Previous Population (2020) | 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 Erin, Ontario is characterized by steady growth. With a median house price of $500,000, the market has witnessed a year-over-year increase of 3.5%. This suggests a healthy demand for single-family homes and a consistent appreciation of property values. Similarly, the median apartment price stands at $300,000, with a more modest growth rate of 2.1% over the past year. This differential in growth rates between houses and apartments may indicate a higher demand for more spacious living accommodations within Erin.
The town’s population has recently seen a significant rise of 7.1%, which can be attributed to Erin’s appeal to individuals seeking a suburban lifestyle away from urban centers whilst still enjoying accessibility to the Greater Toronto Area. This population growth is likely contributing to the sustained demand in the housing market.
Investment Opportunities and Potential
With an ongoing positive trend in population growth and property value appreciation, Erin presents several investment opportunities. The consistent rise in median house prices signals potential for long-term capital gains for investors looking to purchase residential properties. The slower growth rate in apartment prices may offer more affordable entry points for investment and could appeal to those looking to capitalize on rental markets catering to smaller households or individuals.
Erin’s real estate market could also benefit investors looking for lower volatility compared to larger urban markets. With its smaller size and steady growth patterns, Erin offers a balance between stability and potential for appreciation, making it an attractive option for both seasoned and first-time investors.
Future Market Outlook
The outlook for Erin’s real estate market remains positive based on current trends. If the town continues to experience population increases at the current rate, it is likely that demand for housing will remain strong, thereby supporting continued property value appreciation. The sustained year-over-year growth in house prices aligns with broader national trends that favor homeownership as a stable investment.
However, as with any market forecast, it’s important to consider external economic factors such as interest rates, employment rates in surrounding areas, and broader provincial or national housing policies that could impact future market dynamics.
In conclusion, Erin’s growing population and consistent property value appreciation present promising conditions for real estate investment. Looking ahead, the town’s real estate market is poised to continue its positive trajectory so long as it maintains its appeal as a desirable place to live within close proximity to major employment centers.
