Eugenia, 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 Eugenia, Ontario is currently experiencing modest growth. The median house price stands at $500,000 with a year-over-year increase of 3.5%. This growth rate indicates a steady market that is not subject to the extreme fluctuations seen in some other regions, reflecting both continued demand and a stable supply of new homes.
In contrast, the apartment sector shows a slightly lower growth trend with the median price at $300,000 and an increase of 2.1% over the past year. This difference may indicate a higher demand for single-family homes in the area, or potentially greater availability of apartment units which could be tempering price increases in this segment.
The population of Eugenia has reached 15,000 and is growing at a rate of 7.1%. This significant growth suggests an increasing demand for housing in the near future as more people move to the area seeking employment opportunities, lifestyle changes, or retirement options.
Investment Opportunities and Potential
The steady growth in house prices coupled with a solid population increase points towards promising investment opportunities in Eugenia’s real estate market. The consistent appreciation of property values provides potential investors with confidence in the long-term viability of their investments.
Single-family homes appear to be particularly attractive given their higher rate of price appreciation. Investors might consider purchasing properties to cater to new residents or looking into development projects that align with the increasing population’s housing needs.
The slower growth in apartment prices may present an opportunity for those looking to enter the market at a lower point or invest in rental properties aimed at individuals who cannot afford to purchase homes outright or who prefer the flexibility that comes with renting.
Future Market Outlook
Given current trends and demographic data, Eugenia’s real estate market looks set for continued growth. The solid population increase should sustain demand for housing and potentially push prices upward if the rate of new housing development does not keep pace.
Moreover, as remote work becomes more prevalent, areas like Eugenia may see an influx of buyers seeking less dense living environments outside urban centers. Should this trend continue or accelerate, it could further boost demand for local real estate, especially single-family homes.
However, investors and homebuyers should also remain aware of broader economic factors such as interest rates and employment levels that can significantly impact market dynamics. Keeping a close eye on these variables will be crucial for accurately forecasting future trends in Eugenia’s real estate market.
