Fallowfield, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $515,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $310,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $515,000 |
| 4 bedrooms | $630,000 |
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
1. Current Market Conditions and Trends
The real estate market in Fallowfield, Ontario, is currently experiencing a period of steady growth. The median house price stands at $515,000, reflecting a year-over-year increase of 4.2%. This suggests that the market is healthy and continuing to appreciate at a moderate pace, offering stability for homeowners and investors alike. The median apartment price is also seeing growth, although at a slower rate, with values sitting at $310,000 and witnessing a 2.5% increase from the previous year. This difference in growth rates between houses and apartments may indicate a higher demand for single-family homes in the area.
Fallowfield’s population has grown to 15,500 residents, with a robust growth rate of 3.3%. This demographic expansion can be attributed to Fallowfield’s appeal to families and professionals seeking a suburban lifestyle with proximity to urban amenities. The consistent population growth suggests an increasing demand for housing which could put upward pressure on property values over time.
2. Investment Opportunities and Potential
The real estate market in Fallowfield presents several appealing investment opportunities. Given the steady appreciation rates for both houses and apartments, investors can expect reliable capital gains over the medium to long term. Rental properties are also likely to be a sound investment choice due to the continuous inflow of new residents.
Fallowfield’s growing population offers potential for both residential and commercial development projects. New housing developments tailored to meet the needs of expanding demographics could cater to families looking for more spacious living options or young professionals seeking modern apartment living.
Investors could potentially benefit from exploring value-add strategies such as purchasing older properties for renovation and resale or converting existing buildings into high-demand housing formats like multi-family units or co-living spaces.
3. Future Market Outlook
The future outlook for Fallowfield’s real estate market appears positive. With ongoing population growth projected to continue, demand for housing is expected to remain strong, which should support sustained property value appreciation. If current trends persist, it is reasonable to anticipate that both house and apartment prices may see further increases in line with or possibly exceeding past growth rates.
The local government’s planning policies and infrastructure investments will also play a crucial role in shaping the future of Fallowfield’s real estate landscape. Should there be initiatives aimed at enhancing local amenities or improving transportation links, this could further bolster desirability and accelerate market growth.
In summary, while no investment is without risk, Fallowfield presents as a compelling market with solid prospects for both homeownership and real estate investing. Stakeholders are encouraged to monitor regional economic indicators closely as they consider engaging with this vibrant Ontario community.
