Frome, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
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 | $420,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $480,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Frome, Ontario is currently experiencing steady growth, as indicated by the year-over-year increase in property values. The median house price stands at $520,000, which marks a 4% increase from the previous year. Similarly, the apartment market has shown resilience with a median price of $320,000, and a more modest but consistent growth of 2.5% year-over-year.
This growth can be partly attributed to the town’s increasing population, which has risen by 3.3% recently. Such demographic trends are often harbingers of sustained real estate demand, suggesting that the local market is buoyed by an inflow of new residents and households seeking accommodation.
Moreover, the housing inventory levels and sales activity in Frome reveal a balanced market where supply and demand are in relatively stable equilibrium. This balance supports gradual price increases while avoiding the volatility seen in overheated markets.
Investment Opportunities and Potential
The current trajectory of the Frome real estate market suggests promising investment opportunities. For investors looking to enter the residential property market or expand their portfolio, Frome offers favorable conditions:
- The steady rise in housing prices indicates a healthy appreciation potential for long-term investments.
- Apartments offer a lower entry point at $320,000, presenting an attractive option for first-time investors or those looking for rental income properties.
- The population growth rate of 3.3% not only drives housing demand but can also stimulate rental markets as newcomers seek temporary accommodation before purchasing homes.
In addition to these factors, local economic development initiatives and infrastructure projects may further enhance property values over time. Investors should consider both current trends and future community plans when evaluating the potential of their real estate investments in Frome.
Future Market Outlook
The outlook for Frome’s real estate market remains positive with several indicators pointing towards continued growth. The consistent increase in property values is expected to persist given the ongoing population growth and economic stability within the region.
The town’s strategic position and quality of life may attract further investment in both residential and commercial sectors, potentially leading to new developments that could expand housing options and support price appreciation. However, investors must remain cognizant of broader economic conditions that could impact interest rates or employment levels, which in turn might affect buyer affordability and market dynamics.
In conclusion, while short-term fluctuations are always possible, long-term investment in Frome’s real estate appears to be underpinned by solid fundamentals. Careful analysis of specific properties and locations within the town will be crucial for maximizing investment returns.
