Gilmour, 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 | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $475,000 |
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 Gilmour, Ontario is experiencing steady growth. The median house price currently stands at $525,000, reflecting a year-over-year increase of 4%. This consistent upward trend indicates a healthy demand for housing in the area. Similarly, the median apartment price has reached $310,000, with a slightly lower year-over-year growth rate of 2.5%. The population of Gilmour has risen to approximately 15,500 residents, with a robust growth rate of 3.3%, suggesting an expanding local economy and potentially increasing demand for housing.
Investment Opportunities and Potential
With the real estate market showing positive momentum, investment opportunities in Gilmour appear promising. The continuous rise in property values, particularly for houses, suggests that investing in residential real estate could yield solid returns. Additionally, the growing population implies a rising demand for rental properties, making it an opportune time for investors to consider purchasing apartments or houses to rent out. Given the current trends, both short-term gains through property flips and long-term income through rentals seem viable strategies for real estate investors in Gilmour.
Future Market Outlook
Looking ahead, the market outlook for Gilmour is optimistic. The combination of ongoing population growth and consistent property value increases points toward a sustainable real estate market. If these trends continue, we can expect further appreciation in property prices over the coming years. However, potential investors and homeowners should remain vigilant of any shifts in economic conditions that could affect mortgage rates and affordability. Monitoring key indicators such as employment rates, infrastructure developments, and changes in local policies will be crucial for accurately forecasting the future trajectory of Gilmour’s real estate market.
