Erinsville, 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 Erinsville, Ontario, is currently experiencing steady growth. The median house price stands at $500,000, which represents a year-over-year increase of 3.5%. This consistent rise in housing prices indicates a healthy demand for residential property in the area. Similarly, the median apartment price has reached $300,000, with a slower yet positive growth trend of 2.1% year-over-year. The population of Erinsville has grown to 15,000 residents, with a robust growth rate of 7.1%. This demographic expansion is likely contributing to the sustained demand for housing and suggests that the market is thriving.
Investment Opportunities and Potential
Given the current trends, Erinsville presents several attractive investment opportunities. The continuous increase in property values indicates that investments made today are likely to appreciate over time. Particularly noteworthy is the opportunity to invest in the housing sector due to its higher growth rate compared to apartments. With a growing population and an upward trend in property prices, developers and investors might consider new residential projects or the renovation of existing properties to capitalize on the increasing demand.
Future Market Outlook
The future outlook for Erinsville’s real estate market appears optimistic. The steady growth in property values, coupled with significant population growth, suggests that both supply and demand will remain strong. If the current trends persist, investors can expect continued appreciation in their real estate assets. However, it is important for investors to monitor economic factors such as employment rates, interest rates, and local industry performance as they can influence the market dynamics significantly.