Goderich, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Goderich, Ontario, is currently experiencing steady growth. With the median house price at $500,000 and witnessing a 3.5% year-over-year increase, the market shows resilience and a positive trajectory. Similarly, the median apartment price stands at $300,000, having grown by 2.1% over the past year. These figures suggest a stable housing market that is gradually appreciating in value.
The population of Goderich has grown to approximately 15,000 residents, marking a significant population growth rate of 7.1%. This demographic trend indicates a rising demand for housing which could sustain the current upward pricing trend. The consistent increase in property values alongside population growth points towards a healthy real estate market with active buyer interest.
Investment Opportunities and Potential
Considering the steady increase in property values and the growing population, Goderich presents attractive investment opportunities for both residential and rental markets. Investors can capitalize on the potential for capital gains given the positive market momentum reflected in house and apartment price trends.
The steady rise in prices also suggests that rental properties may yield solid returns as housing demand continues to swell with the expanding population. With Goderich’s small-town charm and proximity to Lake Huron, there is potential for vacation rental investments as well, catering to tourists and visitors looking for short-term stays.
Future Market Outlook
The future real estate market outlook for Goderich appears promising. The town’s robust population growth coupled with sustainable property price increases indicate a market poised for continued expansion. Barring any unforeseen economic shifts or policy changes that could impact national or local real estate dynamics, investors and homeowners can remain cautiously optimistic about Goderich’s market prospects.
Long-term investment strategies may be particularly advantageous in this environment. As the town continues to grow and attract new residents due to its quality of life, natural beauty, and economic opportunities, demand for housing is likely to persist, potentially driving property values even higher over time.
In conclusion, Goderich’s real estate market demonstrates positive signs for both current stability and future growth potential. Stakeholders should monitor local development plans and broader economic indicators to make informed decisions while considering the enduring appeal of Goderich’s unique market attributes.
