Faircrest, 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 (2025) | 15,000 |
| Previous Population (2020) | 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 Faircrest, Ontario is currently experiencing steady growth. The median house price rests at $500,000, which marks a 3.5% year-over-year increase. This suggests a healthy demand for housing and a robust property market. Apartments are also seeing an uptick in value, with a median price of $300,000 and a slower yet consistent growth rate of 2.1% year-over-year. These figures indicate a sustained interest in both standalone homes and multi-family dwellings.
The population of Faircrest stands at 15,000 residents with an impressive growth rate of 7.1%, signaling an expanding community that is likely to drive further demand for housing in the area. Such demographic trends can have a significant impact on the local real estate market, potentially leading to increased competition for properties and upward pressure on prices.
Investment Opportunities and Potential
Faircrest presents appealing opportunities for real estate investors. Given the steady increase in property values and the substantial population growth, investment in both residential and rental properties could yield favorable returns. The stronger growth rate in house pricing compared to apartments may hint at a particular demand for single-family homes, which might be a prime target for investors looking to capitalize on the trend towards more spacious living arrangements.
Apartments offer a more accessible entry point into the market at $300,000 and maintain a positive appreciation trend, making them an attractive option for investors focusing on rental income or first-time homebuyers. With the ongoing population increase, there will likely be sustained or growing demand for rental accommodations, positioning landlords to benefit from potential rent increases.
Future Market Outlook
The future outlook for Faircrest’s real estate market appears optimistic. The consistent growth in median property values across both houses and apartments suggests consumer confidence and a strong underlying economy. Additionally, the notable population expansion implies that this trajectory is poised to continue as new residents seek housing.
In anticipation of ongoing demand, it would be prudent for stakeholders to monitor infrastructure developments and employment opportunities within Faircrest as these factors will further influence the real estate landscape. If current trends persist or improve, Faircrest could experience heightened interest from both buyers and investors seeking stable returns in a growing community.
All things considered, maintaining vigilance over macroeconomic conditions that can affect interest rates and lending standards will also be essential for those participating or considering entering the Faircrest real estate market.
