Estaire, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $345,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| 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 Estaire, Ontario is currently experiencing steady growth. With a median house price of $485,000, the market has seen a year-over-year increase of 3.2%. This indicates a healthy demand for housing in the area. Similarly, the median apartment price stands at $295,000, which reflects a slightly lower year-over-year growth of 2.5%. These figures suggest that the property market in Estaire is appreciating at a moderate pace, making it an attractive environment for both homebuyers and investors.
The population of Estaire is on the rise with a growth rate of 4.8%, totaling approximately 15,200 residents. This demographic trend suggests an increasing demand for housing and could be a driver for continued appreciation in property values.
Investment Opportunities and Potential
Considering the steady growth in property values and the increasing population, Estaire presents promising investment opportunities. Single-family homes are particularly appealing due to their higher appreciation rate compared to apartments. However, apartments also offer potential for those looking to invest in rental properties or more affordable housing options.
The consistent population growth indicates a long-term demand for housing which bodes well for real estate investors. The current trends suggest that investments made now could yield solid returns as the market continues to grow steadily.
Future Market Outlook
The future outlook for Estaire’s real estate market remains positive. Given the current trends and the robust population growth rate, it is anticipated that both housing prices and demand will continue to rise. Investors can be cautiously optimistic about entering this market with expectations of steady growth rather than volatile spikes.
Careful monitoring of economic factors such as employment rates, infrastructure development, and interest rates will be crucial for accurately predicting future trends. Nonetheless, based on present data, Estaire’s real estate market looks set to maintain its upward trajectory in the foreseeable future.
