Foymount, 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 Foymount, Ontario, is currently experiencing steady growth, with the median house price standing at $500,000, marking a year-over-year increase of 3.5%. This rise indicates a healthy demand for housing in the area. Similarly, the median apartment price has seen growth, currently valued at $300,000, which is up by 2.1% from the previous year. These trends point towards a stable and gradually appreciating market.
With a population of 15,000 and a robust population growth rate of 7.1%, Foymount is experiencing demographic expansion that could further stimulate housing demand. The increasing population may lead to heightened activity in the real estate market as new residents seek housing and investment opportunities.
Investment Opportunities and Potential
The current trends in Foymount’s real estate market present promising investment opportunities. The consistent appreciation of property values suggests that investing in residential properties can yield solid returns in the mid to long term. Single-family homes are particularly attractive due to their higher appreciation rate compared to apartments.
In addition to purchasing properties for resale or rental income, investors might explore development projects to cater to the growing population. Given the demographic growth, there may be an underserved market segment eager for new housing options, including townhomes and multi-residential buildings.
Future Market Outlook
The future outlook for Foymount’s real estate market remains positive. The persistent population growth implies a sustained demand for housing which should continue to support property values. Assuming that economic conditions remain favorable and interest rates stable, the market is likely to maintain its upward trajectory.
An important factor that may influence future market dynamics is infrastructural development accompanying the population increase. Should Foymount invest in enhancing local amenities and services, it could become even more attractive to potential residents and investors alike. Careful monitoring of economic indicators and planning policies will be crucial for investors aiming to capitalize on Foymount’s real estate potential.
