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
As of the current assessment, Goderich, Ontario’s real estate market demonstrates steady growth with a median house price of $500,000, which has seen a year-over-year increase of 3.5%. This increment suggests a healthy demand for residential properties within the town. Additionally, the median apartment price stands at $300,000, with a more modest appreciation trend of 2.1% year-over-year.
The population of Goderich has experienced significant growth at a rate of 7.1%. This demographic shift is indicative of an influx of new residents and potential homebuyers into the area. Consequently, the current market conditions are characterized by a growing demand that may lead to tighter inventory levels and potentially greater competition among buyers.
Investment Opportunities and Potential
The investment landscape in Goderich presents several opportunities borne out of the town’s growing population and consistent property value appreciation. For investors targeting long-term equity build-up, purchasing residential properties appears promising given the upward trajectory in housing prices.
Rental properties may also be an attractive venture as new residents seeking temporary or non-permanent housing solutions stimulate demand for apartments. The moderate increase in apartment prices indicates a stable rental market with room for growth, presenting a potential source of ongoing rental income for investors.
Future Market Outlook
Looking ahead, Goderich’s real estate market is poised to maintain its momentum based on several positive indicators. With the town’s robust population growth far outpacing many other regions, there is an inherent foundation for sustained demand in housing.
Given the existing trends and barring any unforeseen economic shifts or policy changes that could impact the housing market nationwide, it is reasonable to forecast continued property value appreciation in both houses and apartments. However, investors and stakeholders should monitor interest rates, employment figures, and regional development plans as these factors can significantly influence future market dynamics in Goderich.
