Essa, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $550,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $550,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $480,000 |
Demographics
| Current Population (2025) | 16,000 |
| Previous Population (2020) | 15,500 |
| Population Change | 3.2% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Essa, Ontario is currently exhibiting stable growth. The median house price in the area is $550,000, which has seen a year-over-year increase of 4%. This indicates a healthy demand for housing in the region, likely driven by factors such as the town’s amenities and its proximity to larger urban centers. The median apartment price stands at $320,000, with a slightly lower year-over-year appreciation rate of 2.5%. This difference in growth rates suggests that while there is an interest in more affordable and smaller-scale living spaces, houses are still the preferred asset class for real estate buyers and investors in Essa.
Investment Opportunities and Potential
The steady population growth of 3.2% in Essa points towards an increasing demand for residential properties. With a population now reaching approximately 16,000 residents, the expansion of local infrastructure and community services is likely to follow, enhancing the town’s appeal for both long-term residents and potential investors. Given the current trends, investment in both houses and apartments seems promising. Houses offer a higher capital appreciation potential due to their stronger price trend, while apartments might be appealing for those looking for a lower entry point into the market or rental income opportunities.
Future Market Outlook
The future real estate market outlook for Essa appears optimistic. The consistent population growth combined with positive price trends suggests that the demand for housing will remain robust. Assuming these trends continue, we can expect a gradual but steady increase in property values across both houses and apartments. Investors looking to capitalize on market conditions should consider both short-term gains from flipping properties as well as long-term returns from rental income and property value appreciation. However, it is crucial to monitor economic indicators and local developments closely, as shifts in interest rates or regional employment opportunities may impact these forecasts.
