Farlane, Ontario Real Estate Market Data
Updated: Nov 2024
House
Median price | $510,000 |
Monthly growth | 1.5% |
Quarterly trend | 4.0% |
Stock on market | 0.7% |
Apartment
Median price | $315,000 |
Monthly growth | 1.0% |
Quarterly trend | 2.5% |
Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $425,000 |
3 bedrooms | $510,000 |
4 bedrooms | $620,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $260,000 |
2 bedrooms | $360,000 |
3 bedrooms | $470,000 |
Demographics
Current Population (2025) | 15,200 |
Previous Population (2020) | 15,000 |
Population Change | 1.3% |
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 Farlane, Ontario continues to show resilience with positive trends across multiple sectors. The median house price in the region currently stands at $510,000, marking a solid year-over-year increase of 4%. This indicates a steady upward trajectory in the housing market, signaling healthy demand and a robust market environment.
Similarly, the apartment sector is experiencing growth, albeit at a slightly lower rate. The median apartment price is pegged at $315,000, with an observed annual increase of 2.5%. This growth suggests that smaller housing units are also seeing increased interest, possibly driven by first-time homebuyers or investors looking for rental properties.
The population of Farlane has been growing steadily at a rate of 1.33%, which presently stands at 15,200 residents. This demographic trend is likely contributing to the sustained demand for housing in the area.
Investment Opportunities and Potential
The consistent growth in property values presents numerous investment opportunities in Farlane. The solid performance of detached houses makes them a reliable asset for long-term equity growth. Investors can capitalize on the 4% year-over-year price increase, which is expected to continue as demand remains high.
Apartments offer an alternative investment route with potential for both capital appreciation and rental income. With prices increasing at a rate of 2.5% annually, apartments represent an accessible entry point into the real estate market for investors who may not be ready to commit to higher-priced detached homes.
Furthermore, Farlane’s growing population suggests a continued need for residential properties. Investors could explore development projects or renovation flips to cater to the increasing housing demands of both buyers and renters.
Future Market Outlook
The future real estate market outlook for Farlane is promising based on current trajectories and demographic trends. Assuming no major economic disruptions occur, the steady population growth paired with ongoing demand is likely to support further property value appreciation.
The housing market is anticipated to maintain its momentum with modest yet consistent gains in line with historical increases. Prospective investors and homeowners can expect a stable market environment, making Farlane an attractive location for both settling down and investing in real estate over the coming years.