Forfar, 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 Forfar, Ontario, is currently characterized by moderate growth. The median house price in the area stands at $500,000, with a year-over-year increase of 3.5%. This indicates a steady appreciation of property values which could be reflective of a stable demand for housing in the region.
In contrast, the market for apartments appears to be growing at a slower pace. The median apartment price is currently at $300,000, having risen by 2.1% over the past year. This suggests that while there is growth within the apartment sector, it may not be as robust as that of standalone houses.
The local population has seen a significant increase of 7.1%, bringing the total to approximately 15,000 residents. This population growth can contribute to increased housing demand, potentially placing upward pressure on property prices and rent rates in the future.
Investment Opportunities and Potential
The steady growth in housing prices coupled with ongoing population expansion presents attractive investment opportunities in Forfar’s real estate market. Investors could benefit from acquiring properties in this burgeoning market to capitalize on potential long-term capital gains and rental income.
The relatively higher growth rate for houses compared to apartments may suggest that investments in single-family homes could offer better capital appreciation prospects. However, apartments might appeal to investors seeking more affordable entry points into the market or catering to individuals who prefer more modest living spaces.
Furthermore, with demographic trends showing significant population growth, there may be opportunities for new residential developments or the renovation of existing properties to meet the evolving needs of the community.
Future Market Outlook
The future outlook for Forfar’s real estate market appears cautiously optimistic. Continued population growth is likely to sustain demand for housing and could lead to further price increases if supply does not keep pace. If current trends persist, investors can expect a progressive yet stable appreciation of property values over time.
Economic factors such as employment rates, interest rates, and regional economic development will also play critical roles in shaping market dynamics. Investors are advised to monitor these elements closely when making decisions about entering or exiting the market.
In conclusion, Forfar’s real estate market offers promising opportunities for those looking to invest in a growing community with solid fundamentals supporting property value appreciation and rental demand.
