Gooderham, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.8% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $335,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.7% |
| 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 Gooderham, Ontario is currently experiencing a steady growth pattern. With a median house price of $485,000, the market has seen a healthy year-over-year increase of 4.2%. This indicates a robust demand for houses in the area. Furthermore, the median apartment price stands at $295,000, with a more modest year-over-year growth of 1.8%. The slower growth rate for apartments may reflect a higher demand for single-family homes or could indicate an abundance of apartment listings that satisfy the current market demand.
The population of Gooderham is 15,200, and it has been growing at a rate of 2.7%. This steady population increase suggests a continual influx of residents which may be due to various factors such as employment opportunities, lifestyle preferences, or regional development projects. The sustained population growth supports the housing market demand and can contribute to the overall stability of real estate investments in the region.
Investment Opportunities and Potential
The current trends suggest that Gooderham’s real estate market presents promising investment opportunities. The consistent rise in house prices coupled with continuous population growth creates an environment ripe for real estate investments. Single-family homes appear to be particularly attractive, as evidenced by their higher price appreciation rate.
Investors should consider the long-term potential due to the ongoing population increase that is expected to stimulate housing demand further. Rental properties might also be a viable investment opportunity, especially if aligned with the demographic trends and local economic conditions that favor housing affordability and availability.
Future Market Outlook
The future outlook for Gooderham’s real estate market remains positive based on current data. Given the steady population growth and consistent increase in property values, it’s reasonable to anticipate continued demand for both houses and apartments in the area. Assuming no major economic disruptions occur, investors could expect a stable appreciation of property values over time.
To capitalize on these trends, stakeholders should monitor key economic indicators such as employment rates, infrastructure developments, and interest rates as they significantly influence real estate dynamics. Additionally, staying attuned to potential shifts in demographic preferences or changes in local policies will be crucial for making informed investment decisions.
