Florence, 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
As of the latest data, Florence, Ontario’s real estate market is experiencing a period of moderate growth. The median house price in the area stands at $500,000, which marks a 3.5% year-over-year increase. This suggests a steady demand for single-family homes, likely driven by both local buyers and external investors.
Similarly, the apartment sector has shown resilience with a median sale price of $300,000 and an appreciation trend of 2.1% year-over-year. This increment is slightly lower than that for houses but indicates a consistent upward trajectory in property values across different real estate segments.
The population of Florence is approximately 15,000 residents, which has grown by 7.1% recently. The inflow of new residents can be attributed to Florence’s appealing living conditions, economic opportunities, or other regional factors contributing to its attractiveness as a place to live.
Investment Opportunities and Potential
The current real estate trends indicate that Florence possesses substantial investment potential. The steady increase in property values across both houses and apartments points towards a healthy market that could benefit long-term investors. Additionally, the significant population growth implies an increasing demand for housing which may lead to tighter inventory levels and potential rental income increases.
For those looking to invest in residential properties, the current median prices suggest an accessible entry point compared to larger urban centers. Furthermore, the ongoing appreciation rates could yield favorable returns on investment through both capital gains and rental income over time.
It’s important for investors to note that while current trends are positive, they should conduct thorough due diligence and consider local economic drivers, community planning initiatives, and any changes in municipal policies that might impact future property values.
Future Market Outlook
The future outlook for Florence’s real estate market remains optimistic based on present indicators. Assuming that population growth continues at its current pace or accelerates due to external factors such as new employment opportunities or regional developments, demand for housing is likely to remain strong.
If the national economy remains stable and mortgage rates stay at levels conducive to home buying, we can expect the market to maintain its growth trajectory. However, potential buyers and investors should stay informed about macroeconomic factors and local changes that could influence market dynamics.
In summary, Florence’s real estate market presents promising opportunities for both homeownership and investment activities. Monitoring key indicators such as population trends, economic conditions, and housing supply will be essential in making informed decisions moving forward.
