Frome, 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 Frome, Ontario, is experiencing steady growth, as indicated by the current housing data. The median house price in the area stands at $500,000, with a year-over-year increase of 3.5%. This trend suggests a healthy demand for single-family homes and a relatively stable market environment. Similarly, the median price for apartments has seen a more modest growth of 2.1% from the previous year, bringing it to $300,000. This growth rate reflects a consistent but slower rising demand for apartment living within the community.
Frome’s population has grown by 7.1%, which is a significant factor contributing to the housing demand. The influx of residents is likely due to the town’s amenities, quality of life, and its potential for economic development. This population increase is creating a dynamic market where both supply and demand are scaling up to meet the needs of new and existing residents.
Investment Opportunities and Potential
The ongoing growth in Frome’s real estate market presents attractive investment opportunities. With house prices appreciating at a moderate rate of 3.5% annually, investors can expect to see a steady return on investment for single-family homes. The slower appreciation rate for apartments at 2.1% may appeal to investors looking for lower entry points into the market while still benefiting from the overall stability of real estate as an asset class.
As population growth continues to be robust, there will be an increased demand for rental properties, thereby providing potential revenue streams for investors interested in becoming landlords or property managers. Additionally, with new residents moving into Frome, there could be an opportunity for developments that cater to specific demographic needs or lifestyle preferences such as retirees or young professionals.
Future Market Outlook
The future outlook for Frome’s real estate market appears positive given the current trends and population growth figures. Continued demand is expected to drive property values upward over time, albeit at sustainable rates that prevent overheating of the market. The town’s development plans and economic initiatives will also play a critical role in shaping long-term real estate patterns.
An ongoing analysis of local job markets, infrastructure projects, and regional economic policies will be crucial in predicting future market movements. Investors and homeowners should remain vigilant about factors such as interest rate changes, housing regulations, and shifts in consumer preferences that could affect market dynamics.
In conclusion, Frome’s real estate market offers both stability and growth potential for buyers and investors alike. Steady price increases in both houses and apartments reflect ongoing demand that is supported by population growth—a trend that is likely to continue if economic conditions remain favorable.
