Gilmour, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $350,000 |
| 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 | 5,800 |
| 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 moderate growth with the median house price currently standing at $525,000, reflecting a year-over-year increase of 4%. This indicates a steady market that has not been subject to extreme volatility, offering a stable environment for both homeowners and investors. Similarly, the median apartment price has reached $320,000, showing a slightly lower year-over-year appreciation of 2.5%. This difference in growth rates between houses and apartments may suggest a stronger demand for single-family homes in the region.
With a population of 15,500 that has grown by 3.3%, Gilmour is witnessing an influx of new residents and potential homebuyers. This demographic trend can be attributed to various factors such as the locale’s attractiveness to individuals seeking residence outside urban centers or its appeal to first-time homebuyers looking for affordable housing options.
Investment Opportunities and Potential
Investment opportunities in Gilmour’s real estate market appear promising due to the steady growth in property values and the increasing population. The consistent rise in house prices suggests that investments in residential properties are likely to benefit from capital appreciation over time. Moreover, the ongoing population growth signals a possible rise in demand for rental properties, providing an additional avenue for investors interested in generating rental income.
The slower appreciation rate of apartment prices compared to houses presents an opportunity for investors looking for entry points into the real estate market at a more accessible price point. Such properties could appeal to a segment of renters who prefer apartments or cannot afford higher-priced homes, ensuring sustained occupancy rates.
Future Market Outlook
Looking ahead, the future market outlook for Gilmour seems cautiously optimistic. If current trends persist, property values are expected to continue their gradual ascent, fueled by sustained population growth and ongoing demand for housing. However, investors should remain mindful of broader economic factors that could affect interest rates and borrowing costs—variables that can have significant impacts on the real estate market.
While short-term fluctuations are always possible, long-term projections suggest that Gilmour’s real estate market could remain attractive for investment due to its stable growth patterns and demographic shifts favoring suburban and rural living spaces post-pandemic. As always, potential investors should conduct thorough due diligence and consider local market dynamics before committing capital.
