Formosa, 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 Formosa, Ontario is currently experiencing a steady growth phase. The median house price stands at $500,000, which reflects a year-over-year increase of 3.5%. This indicates a healthy demand for housing in the area and a robust seller’s market. On the other hand, the median apartment price is positioned at $300,000, with a slightly lower year-over-year growth rate of 2.1%. This slower rate of increase suggests that apartments might be reaching a saturation point or that the demand for such housing is less aggressive compared to standalone houses.
Investment Opportunities and Potential
With the population of Formosa growing at a rate of 7.1%, there is significant potential for investment, particularly in residential properties. Investors can expect a good return on investment due to the steady appreciation in property values. The consistent growth in property prices suggests that new investments in both houses and apartments are likely to benefit from similar trends moving forward. Additionally, the stronger growth in house prices indicates that single-family homes may present particularly attractive opportunities for long-term capital gains.
Future Market Outlook
The future outlook for Formosa’s real estate market appears positive. Given the solid population growth coupled with the current upward trends in property values, it is reasonable to project continued demand for housing. If these trends persist alongside economic stability and favorable mortgage rates, both buyers and sellers will find advantageous conditions in Formosa’s real estate market.
An important consideration for future investors will be monitoring shifts in local and national economic factors that could influence consumer confidence and buying power. Nonetheless, if Formosa maintains its current trajectory of growth and development, the real estate market should remain vibrant and offer fruitful opportunities for both residential buyers and real estate investors alike.
