Farlane, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $310,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $640,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
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 Farlane, Ontario, is experiencing a period of steady growth. With a median house price of $520,000, the market has seen a 4% year-over-year increase, indicating consistent demand for housing. Similarly, apartments are also appreciating in value with a median price of $310,000, following a 2.8% year-over-year trend. This gradual upswing in property values reflects both the desirability of the area and the overall economic stability within the region.
The local population has grown by 3.3%, which further supports the housing demand and contributes to the robust market conditions. This population increase likely stems from Farlane’s growing reputation as an attractive place to live, work, and invest, combined with broader regional growth trends.
Investment Opportunities and Potential
For investors considering Farlane’s real estate market, there is considerable potential. The consistent appreciation of property values presents an opportunity for both short-term gains through resale and long-term investment through rental income. Given that housing prices are rising at a stable rate without showing signs of an overheated market, investments made now could yield significant returns as the market continues to mature.
Additionally, with apartment prices also on an upwards trajectory but at a slightly lower pace compared to houses, investing in multi-unit residential properties could be particularly attractive for those seeking to capitalize on the demand for more affordable living options driven by demographic trends.
Future Market Outlook
The future market outlook for Farlane remains optimistic. Assuming current economic conditions persist and the local population continues to grow at or above the current rate of 3.3%, demand for both houses and apartments is likely to remain strong. The town’s real estate is set to benefit from this sustained interest, suggesting that now is an opportune time for investment before prices potentially rise further.
Careful monitoring of economic indicators and planning infrastructure developments will be crucial in maintaining this growth trajectory. If Farlane can successfully manage its expansion while preserving its appealing qualities, it stands to solidify its position as one of Ontario’s emerging real estate markets with great promise for investors and homeowners alike.
