Estaire, 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
Current Market Conditions and Trends
The real estate market in Estaire, Ontario is currently experiencing stable growth. With a median house price of $500,000 and an annual appreciation trend of 3.5%, the market is showing healthy upward momentum. Similarly, the median apartment price stands at $300,000, following a more modest year-over-year increase of 2.1%. The consistent growth in property values suggests a robust demand for housing in the area. This demand is likely supported by the local population growth, which is reported to be 7.1%, indicating an influx of new residents and potential homebuyers into Estaire.
Investment Opportunities and Potential
Given the current trends and demographic expansion, investment opportunities in Estaire appear promising. The steady rise in property values for both houses and apartments reflects a market that could benefit long-term investors. The significant population increase suggests that rental properties might also be a lucrative venture, as newcomers will be looking for residences while they establish themselves in the community. Moreover, with single-family homes appreciating at a higher rate than apartments, investors may find greater capital gains potential in purchasing residential homes.
Future Market Outlook
The future market outlook for Estaire remains optimistic. Population growth is a key driver of real estate demand, and with numbers increasing substantially at 7.1%, it’s reasonable to expect continued demand for housing. If this demographic trend persists, we can anticipate further pressure on housing supply which may lead to increased property prices and investment returns over time. It is important for potential investors to monitor factors such as local economic development initiatives and interest rates as these could influence the trajectory of the market.
