Ettyville, 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 Ettyville, Ontario is currently characterized by moderate growth. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This steady growth indicates a stable market that has been resilient in the face of economic fluctuations. Similarly, the median apartment price is currently $300,000, having increased by 2.1% from the previous year. This slower rate of growth compared to houses suggests that apartments are a more accessible entry point into the Ettyville real estate market for first-time buyers and investors.
With a population of 15,000 residents and a robust population growth rate of 7.1%, demand for housing in Ettyville is expected to remain strong. The influx of new residents may be due to several factors including employment opportunities, quality of life, and the area’s attractiveness to both young professionals and retirees.
Investment Opportunities and Potential
Investors considering Ettyville’s real estate market can find potential in both the residential housing and apartment sectors. Given the solid growth trends and increasing population figures, investing in rental properties could be particularly lucrative. Rental demand is likely to grow as the population increases, which could drive up rental prices over time.
The current trends suggest that investing in houses could yield higher capital gains based on the higher year-over-year price increase compared to apartments. However, apartments offer a lower entry point for investment and may appeal to investors seeking more affordable options or those looking to diversify their portfolio with multiple units.
Additionally, new development projects responding to population growth could present investment opportunities in the construction sector or in newly developed residential or mixed-use properties.
Future Market Outlook
The future outlook for Ettyville’s real estate market appears optimistic. With sustained population growth and ongoing economic stability, demand for housing is projected to continue its upward trajectory. Assuming these trends persist, both median house and apartment prices could see further increases.
The consistent growth pattern suggests that we may not anticipate any sudden spikes or drops in property values but rather steady appreciation. This makes Ettyville an attractive location for long-term investment strategies focused on capital appreciation and rental income streams.
As urban centers become more saturated and expensive, smaller cities like Ettyville with good infrastructure and quality of life may become hotspots for those seeking affordability without compromising on amenities. Investors would do well to monitor transport developments, employment rates, and urban planning initiatives as indicators of sustained market health.
In conclusion, while no market is without risk, Ettyville presents a compelling case for investment consideration due to its positive growth indicators and stable market conditions.
