Everett, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $490,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.3% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $490,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Everett, Ontario is currently experiencing steady growth. With a median house price of $490,000 and an annual increase of 3.3%, the market is showing healthy appreciation, suggesting a stable demand for single-family homes. Meanwhile, the median apartment price stands at $295,000 with a more modest year-over-year gain of 1.9%. This disparity in growth rates indicates a stronger market for houses compared to apartments.
The town’s population size of 15,200 combined with a 2.7% population growth rate suggests that Everett is attracting new residents at a significant pace. This demographic trend is likely contributing to the sustained demand for housing in the area.
Investment Opportunities and Potential
Given the steady increase in property values and the consistent population growth, Everett presents itself as an attractive location for real estate investment. The higher growth rate for houses compared to apartments could be an indication that single-family homes may offer better capital gains potential in the short to medium term. However, apartments might appeal to investors seeking more affordable entry points into the property market or looking to cater to individuals who prefer smaller living spaces or rental units.
Furthermore, as the town continues to grow, there may be opportunities for development projects that can meet the housing needs of the expanding population. Investors might also consider exploring commercial real estate or mixed-use developments given the influx of new residents requiring services and amenities.
Future Market Outlook
The future outlook for Everett’s real estate market appears positive. The consistent rise in property values coupled with robust population growth sets a foundation for ongoing demand. Assuming that current economic conditions persist and no major policy changes disrupt the market dynamics, investors can reasonably expect continued appreciation in property values over time.
However, it is important for investors to monitor factors such as interest rates, employment levels within the region, and any significant infrastructural developments that could impact the real estate landscape in Everett either positively or negatively.
In conclusion, while current trends point towards a healthy real estate market with promising investment opportunities, thorough due diligence and continuous monitoring of local and national economic indicators are advisable strategies for anyone looking to invest in Everett’s real estate.
