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
1. Current Market Conditions and Trends
The real estate market in Foymount, Ontario is experiencing a period of steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market shows signs of moderate appreciation. Similarly, the apartment sector is witnessing a growth trend with the median apartment price standing at $300,000 and an upward trend of 2.1% year-over-year.
The population of Foymount has seen a significant rise of 7.1%, which may be contributing to the increased demand for housing in the area. This population growth could be indicative of Foymount’s emerging appeal as a desirable residential location or perhaps due to economic factors drawing people to the area.
2. Investment Opportunities and Potential
Given the current trends, Foymount presents potential investment opportunities particularly in residential real estate. The consistent appreciation in property values suggests that purchasing real estate now could yield profitable returns in both the short-term through rental income and long-term through capital gains.
Investors might consider diversifying their portfolios by acquiring both houses and apartments to cater to different segments of the market. The growing population implies a potential increase in rental demand, which might lead to higher rental income for investors.
Furthermore, with housing prices appreciating at a faster rate than apartments, single-family homes may offer better capital appreciation potential albeit possibly at a higher entry cost and more significant maintenance responsibilities compared to apartments.
3. Future Market Outlook
The future outlook for Foymount’s real estate market appears promising based on current data and trends. Should the population continue to grow at or above the current rate, demand for housing is likely to drive further price increases.
An important factor to consider will be the local economy and employment rates as these are critical in sustaining long-term property value growth. Additionally, any changes in interest rates or government housing policies could also impact future market conditions.
Investors looking at long-term horizons should monitor these factors closely while considering that well-located properties in growing communities like Foymount often hold their value against market fluctuations better than those in stagnant or declining areas.
