Evansville, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| Stock on market | 0.9% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $475,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| 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 Evansville, Ontario is currently showing signs of steady growth. With a median house price of $525,000, the market has experienced a 4.2% year-over-year increase, indicating continued demand for residential properties. Similarly, the median apartment price stands at $315,000, with a more modest year-over-year growth of 2.5%. The sustained growth in property values reflects a stable and upward-moving market trend.
Evansville’s population has also seen a notable uptick, growing at a rate of 3.3%. This increase in residents can be attributed to the town’s appeal to both families and professionals seeking a balance between urban amenities and suburban tranquility. The steady population growth is expected to further fuel housing demand.
Investment Opportunities and Potential
Investors looking for opportunities in Evansville would be wise to consider the stable growth patterns displayed by both the house and apartment markets. The consistent appreciation in property values suggests that investments made in the current climate are likely to benefit from continued capital gains.
The diversification between houses and apartments offers options for different investment strategies: houses provide potential for long-term family rentals or resale profits, while apartments might appeal to investors focused on renting to singles or couples who may prioritize location over size.
With the population on the rise, rental demand is predicted to remain strong. This could lead to favorable rental yields on top of property value appreciation, making this an opportune time for investors to enter or expand their presence in Evansville’s real estate market.
Future Market Outlook
Looking ahead, Evansville’s real estate market appears poised for continued growth. Demographic trends such as population growth are key drivers that suggest ongoing demand for housing. With its current trajectory, both house prices and apartment prices are expected to maintain an upward trend albeit potentially at a more moderate pace.
Economic factors such as employment rates and regional development projects will also influence the future market outlook. Assuming these indicators remain positive and supportive of growth, Evansville should continue to attract homebuyers and investors alike.
In conclusion, while no market is without risk, Evansville presents a compelling case for real estate investment based on current trends and future potential. As always, individual investors should perform due diligence and consider their own investment goals and risk tolerance when evaluating potential opportunities.
