Gesto, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 15,000 |
| Population Change | 1.3% |
| 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 in Gesto, Ontario
In Gesto, Ontario, the real estate market is currently experiencing a period of steady growth. The median house price in the area stands at $525,000, which marks a 4% increase from the previous year. This indicates a consistent upward trend in property values for residential houses. Meanwhile, apartments are also seeing a positive trajectory, albeit at a slightly slower pace; the median apartment price is $310,000 with an annual growth rate of 2.5%. This contrast in growth rates may reflect a higher demand for single-family homes as opposed to multi-family units or a difference in inventory levels between these housing types.
The population of Gesto is 15,200 and has been growing at a healthy rate of 1.3% per year. This steady influx of residents is likely contributing to the demand for housing and supporting the continued appreciation of property values within the region. The demographic trends suggest that there is an ongoing need for both ownership and rental housing options.
Investment Opportunities and Potential in Gesto, Ontario
Given the current market conditions, investment opportunities within Gesto’s real estate sector appear promising. The consistent growth in house prices indicates that investors could expect capital gains over time if this trend persists. Single-family homes present particularly attractive investment prospects due to their higher year-over-year price increase when compared to apartments.
Apartments offer a different kind of opportunity; with a lower entry price point and a steady growth rate, they might be appealing for investors seeking more affordable investments or looking to cater to the rental market. This could be especially relevant given the population growth, as newcomers may initially seek rental accommodations.
Investors should also consider factors such as local economic development initiatives, infrastructure improvements, and changes in zoning regulations that could impact future property values and rental demand in Gesto.
Future Market Outlook for Gesto, Ontario
The future market outlook for Gesto’s real estate appears optimistic. The combination of sustained population growth and consecutive years of property value increases bodes well for the ongoing strength of the market. If these trends continue alongside positive economic conditions, both housing prices and investment potential are likely to maintain their upward course.
However, potential investors should monitor external factors that could affect market dynamics such as interest rate changes, employment rates in nearby urban centers, and broader provincial or national economic shifts. Diversifying investments across different types of properties might be a prudent approach to mitigate risks associated with any unforeseen market fluctuations.
In conclusion, while current indicators point towards a stable and growing real estate market in Gesto with favorable investment opportunities, it’s important for stakeholders to remain informed about both local developments and macroeconomic factors that can influence future outcomes.
