Gilford, 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 | $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 | $520,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
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 Gilford, Ontario, is currently experiencing steady growth. The median house price in the area is $520,000, showing a 4% increase year-over-year. This consistent rise indicates a healthy demand for residential properties and a robust market for sellers. Similarly, the median apartment price stands at $310,000, with a slower yet stable growth trend of 2.5% year-over-year. These statistics signify that while houses are in greater demand, apartments are also appreciating at a firm pace.
The population of Gilford has reached approximately 15,500 residents, with a notable population growth rate of 3.3%. This influx of new residents can be attributed to various factors such as the town’s proximity to larger cities, appealing small-town charm, and potentially lower cost of living compared to urban centers. This growth is instrumental in driving housing demand further.
Investment Opportunities and Potential
Investors considering Gilford will find opportunities particularly in the single-family home sector due to its higher appreciation rate. The 4% increase in median house prices year-over-year outpaces the apartment sector, indicating that houses may offer better capital gains in the short to medium term. Moreover, the steady population growth suggests a continuous need for housing which could result in long-term rental income stability for investors.
Apartments present an alternative investment opportunity with a more modest appreciation trend. Investors targeting lower entry points and potentially higher rental yields relative to purchase price could find value here. With demographic trends suggesting an increasing number of smaller households or professionals looking for affordable living options close to major employment zones, the apartment market may see heightened demand over time.
Future Market Outlook
The future outlook for Gilford’s real estate market remains optimistic. The ongoing population growth serves as a fundamental driver for sustained housing demand. Assuming no significant economic disruptions occur, both sectors – houses and apartments – are likely to maintain their upward price trajectories. However, with houses currently showing stronger appreciation rates, they may continue to lead the market’s growth.
It is essential for potential investors and stakeholders to monitor local economic developments, infrastructure improvements, and policy changes that could impact the real estate landscape. Furthermore, understanding broader national economic trends such as interest rate movements and housing supply dynamics will provide additional insight into Gilford’s market potential.
In conclusion, Gilford presents itself as an attractive market for real estate investment with favorable conditions that are likely to persist into the foreseeable future. A balanced approach considering both immediate returns through house investments and long-term strategies involving apartment units could yield desirable outcomes for discerning investors.
