Gananoque, 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 Gananoque, Ontario, currently reflects a median house price of $500,000, indicating a substantial investment level for single-family homes. This market has experienced a growth trend with an increase of 3.5% year-over-year, showcasing sustained demand and stability in property values. Conversely, the median apartment price stands at $300,000 with a slightly lower growth rate of 2.1% year-over-year. This difference in growth rates suggests that houses are in higher demand compared to apartments, possibly due to buyer preferences for more space and privacy.
The local population of 15,000 is on the rise with a significant growth rate of 7.1%, which could be attributed to Gananoque’s appealing living conditions and its potential for economic development. This influx could result in increased demand for housing, thereby impacting the real estate market positively.
Investment Opportunities and Potential
Given the current market trends and population growth, Gananoque offers promising investment opportunities. The steady increase in house prices indicates a healthy market where investments can appreciate over time. Investors might find the single-family home segment particularly appealing due to its higher growth rate.
With the population expanding rapidly, there is potential for both residential and rental property investments to meet the housing needs of new residents. Additionally, the slower growth rate of apartment prices may present an opportunity for investors to enter the market at a lower cost with potentially higher yields in the long term as demand continues to build.
Future Market Outlook
The future outlook for Gananoque’s real estate market appears optimistic. The combination of steady price increases and robust population growth suggests that demand for housing will continue to rise. If these trends persist, we can expect both the house and apartment markets to remain resilient with further potential for capital gains.
However, investors should be mindful of broader economic factors such as interest rates, employment levels within the region, and government housing policies that can influence market dynamics. Keeping abreast of these factors will be crucial in making informed investment decisions in Gananoque’s evolving real estate landscape.
