Gogama, 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 Gogama, Ontario is experiencing consistent growth, with a current median house price of $500,000, reflecting a steady increase of 3.5% year-over-year. This indicates a stable market with ongoing demand for housing. Meanwhile, the median apartment price stands at $300,000, having risen by 2.1% over the past year. This slower growth rate suggests that apartments are a more affordable entry point into the market for buyers or investors looking for lower-priced options.
The population of Gogama has reached 15,000 and is on an upward trajectory with growth pegged at 7.1%. This significant population increase is likely contributing to the rising demand in real estate, as more people seek housing in the area.
Investment Opportunities and Potential
Given the consistent rise in property values and notable population growth, Gogama presents itself as an attractive location for real estate investment. The sustained increase in house prices indicates a strong potential for capital appreciation over time. Moreover, the solid growth in population suggests a rising demand for rental properties, which could benefit investors looking to enter the buy-to-let market.
With apartments experiencing a more moderate price increase compared to houses, there is an opportunity for investors to target this segment of the market. Apartments offer an accessible investment opportunity with the potential for both rental income and long-term value appreciation.
Future Market Outlook
The future outlook of Gogama’s real estate market appears positive. The combination of steady price increases and robust population growth provides a solid foundation for ongoing demand. Assuming these trends continue, we can expect further growth in property values and rental rates.
The current economic indicators suggest that Gogama will maintain its appeal to both residents and investors alike. As long as the local economy remains healthy and continues to attract newcomers, the real estate market should remain buoyant. Investors should monitor these trends closely to make informed decisions about entering or expanding their presence in Gogama’s property market.
