Exeter, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $625,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 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 Exeter, Ontario, is currently experiencing steady growth. With a median house price of $525,000, the market has witnessed a year-over-year increase of 4%. This indicates a stable and growing demand for residential properties in the area. The apartment sector shows a similar positive trend with a more modest growth rate of 2.5% year-over-year, bringing the median apartment price to $320,000. These trends are reflective of a healthy real estate environment that is both appealing to homeowners and investors alike.
The population of Exeter has grown to 15,500 residents, a significant increase of 3.3%. This growth can be attributed to various factors including the town’s attractive amenities, its proximity to larger urban centers, and an overall better quality of life that small towns often offer. The increasing population is likely contributing to the sustained demand for housing in the region.
Investment Opportunities and Potential
Given the current market conditions, investment opportunities in Exeter are promising. The consistent rise in property values suggests that purchasing real estate in this market could yield favorable returns over time. For investors looking to enter the housing market, single-family homes represent an attractive option due to their higher appreciation rate of 4%. Meanwhile, apartments offer a more accessible entry point at $320,000 with a respectable appreciation trend.
Exeter’s growing population suggests that rental properties may also present a lucrative opportunity for investors. With more people moving into the area, there could be an increased demand for rental accommodation which might lead to higher rental yields. Furthermore, as the town continues to develop its infrastructure and amenities, it is likely that Exeter will attract even more residents seeking a balanced lifestyle away from bigger cities.
Future Market Outlook
The future outlook for Exeter’s real estate market remains optimistic. The steady population growth paired with ongoing development projects within the town suggests that demand for both ownership and rental properties will continue to rise. If current trends persist, property values are likely to keep increasing at a sustainable rate.
However, potential investors should also remain vigilant about broader economic conditions that may impact interest rates and mortgage rules which could affect affordability and borrowing costs. It is crucial for investors to stay informed about local and national policy changes that might influence Exeter’s real estate dynamics.
To summarize, Exeter represents a robust market with potential for both short-term gains through property flipping or rental income and long-term asset appreciation. As always with real estate investments, due diligence and awareness of market fluctuations are key components of successful investment strategies.
