Georgetown, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $650,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $400,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $520,000 |
| 3 bedrooms | $650,000 |
| 4 bedrooms | $780,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $320,000 |
| 2 bedrooms | $400,000 |
| 3 bedrooms | $480,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,500 |
| Occupied Private Dwellings | 6,000 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Georgetown, Ontario, is characterized by steady growth and a competitive housing landscape. With a median house price of $650,000, the market has experienced a year-over-year increase of 4.2%. This growth rate reflects a robust demand for housing in the area, backed by strong economic fundamentals and consistent population growth, currently at 3.4%.
Apartments in Georgetown have also seen an uptick in value, with the median price standing at $400,000 and a year-over-year trend showing a 2.5% increase. The less pronounced growth in apartment prices compared to houses indicates a market that is more accessible to first-time homebuyers and investors looking for lower entry points into the property market.
Investment Opportunities and Potential
The investment opportunities within Georgetown’s real estate sector are promising due to its steady population increase and limited supply of new housing developments. Investors can expect capital appreciation given the sustained upward trajectory in house prices. Rental properties are also an attractive option as the expanding population implies a growing rental demand.
The current trends suggest that investing in single-family homes may yield higher long-term gains due to their stronger appreciation rate. However, lower-priced apartments present an opportunity for investors seeking to cater to individuals or smaller families who may be priced out of the standalone home market or prefer the convenience of apartment living.
Future Market Outlook
The future outlook for Georgetown’s real estate market remains optimistic. Continued population growth at 3.4%, along with economic stability and expansion in the region, is expected to sustain demand for housing. The escalation in house and apartment prices is projected to continue but at a potentially moderated pace as interest rates and broader economic conditions evolve.
Investors should monitor local development plans and infrastructure improvements which could significantly influence property values in specific areas of Georgetown. Additionally, keeping an eye on regional employment trends and migration patterns will be crucial for making informed investment decisions.
In summary, Georgetown presents a balanced real estate market with steady growth potential for both homeowners and investors alike.
