Formosa, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,300 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Formosa, Ontario
The real estate market in Formosa, Ontario, is currently characterized by moderate growth. The median house price in the area stands at $525,000, displaying a year-over-year increase of 4%. This incremental growth indicates a steadily appreciating housing market that may be appealing to homeowners and long-term investors alike.
On the other hand, the apartment sector presents a slightly lower growth rate with the median apartment price at $320,000 and a trend of a 2.5% increase from the previous year. These figures suggest a consistent but slower appreciation rate for apartments compared to houses.
The population of Formosa currently stands at approximately 15,500 residents with a notable growth rate of 3.3%. This demographic trend is contributing to an increasing demand for housing within the community.
Investment Opportunities and Potential in Formosa, Ontario
Given the steady increase in property values, Formosa offers promising investment opportunities. For investors focused on long-term equity growth, single-family homes represent a solid asset class due to their higher growth percentage. The 4% year-over-year increase in median house prices suggests that investing in residential property could yield substantial returns over time.
Apartments present an alternative investment opportunity with potential for rental income streams. Although they exhibit slower appreciation, the demand for more affordable housing options due to population growth can lead to low vacancy rates and sustained rental income.
Investors should also consider local economic factors, amenities, and planned infrastructure developments when evaluating potential investments in Formosa’s real estate market.
Future Market Outlook for Formosa, Ontario
The future outlook for Formosa’s real estate market appears positive. Population growth is projected to maintain upward pressure on housing demand. Coupled with the current trends of increasing property values, both sectors—houses and apartments—are likely to continue appreciating, albeit at different rates.
With no immediate indicators suggesting a downturn or market saturation, investors and homebuyers can approach the Formosa real estate market with confidence in its potential for sustained growth. However, as with any investment decision, it is crucial to monitor economic indicators closely for any signs of shifts that could affect market dynamics.
