Fortescue, 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
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Current Market Conditions and Trends
The real estate market in Fortescue, Ontario is currently experiencing a period of steady growth. The median house price in the area stands at $500,000, with an upward trend of 3.5% year-over-year. This indicates a healthy demand for houses in the region. Similarly, apartments are becoming increasingly valuable, with the median price at $300,000 and a growth rate of 2.1% year-over-year.
The population of Fortescue has been growing at a rate of 7.1%, which may suggest an increasing demand for housing. This could be attributed to factors such as employment opportunities, quality of life, or investment prospects drawing people into the area.
Investment Opportunities and Potential
Investors looking to enter the Fortescue real estate market could find potential in both residential and rental properties given the population growth and stable price increases. Long-term capital gains could be anticipated with the current house price trend. Moreover, rental properties might become more lucrative due to population influx—especially apartments that have shown a consistent rise in value but are still relatively affordable compared to houses.
Developers and investors might also explore new construction given the ongoing population increase, focusing on both single-family homes and multi-unit dwellings to cater to diverse housing needs.
Future Market Outlook
The future market outlook for Fortescue’s real estate appears optimistic. Assuming that current trends continue, coupled with the sustained population growth, we can expect a continued rise in property values over the coming years. An ongoing demand for housing is likely to drive new developments and attract further investments into the area.
However, it is important to remain cautious as market conditions can change due to economic shifts or unforeseen global events. Prospective investors should keep an eye on economic indicators specific to Fortescue and broader national trends that may impact the local housing market dynamics.
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