Gooderham, 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 Gooderham, Ontario is currently experiencing a moderate pace of growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing signs of steady appreciation. This trend reflects a healthy demand for housing in the area, coupled with a balanced supply that is not inflating prices excessively.
In contrast, the apartment market in Gooderham shows a slightly lower growth rate with a median apartment price of $300,000 and an annual appreciation trend of 2.1%. This suggests that while there is interest in more affordable and smaller-scale living accommodations, the demand is not as robust as that for houses.
The population of Gooderham stands at 15,000 residents, with a significant growth rate of 7.1%. The increasing population indicates an expanding local economy and potentially more demand for housing in the near future. The current trends demonstrate both stability and gradual growth, making it attractive to homeowners and investors alike.
Investment Opportunities and Potential
The steady increase in property values suggests that Gooderham presents viable investment opportunities, particularly in the housing sector. Investors could expect continued appreciation based on current trends, which indicates good potential for capital gains over time. Rental properties might also be promising due to population growth driving demand for housing.
The slightly lower growth rate in apartment prices compared to houses may indicate an opportunity to enter the market at a more accessible price point. As the population continues to grow, there may be increased demand for diverse types of housing, including apartments which can cater to singles, young professionals, or small families seeking more affordable living options.
Given the current market data, long-term investment strategies seem particularly promising in Gooderham. Investors should note that local economic factors and future development plans could further influence the potential return on investments.
Future Market Outlook
The positive population growth rate is likely to continue fueling demand for residential real estate in Gooderham. If this trend persists along with economic growth and stable employment rates, it could lead to sustained or even increased rates of property value appreciation.
However, prospective investors and homebuyers should keep an eye on external factors such as interest rates, changes in government housing policies, and broader economic conditions that could impact the local real estate market’s trajectory.
In conclusion, while current indicators are positive and suggest healthy market conditions with potential for investment returns, vigilance and ongoing analysis will be key for anyone looking to enter or continue investing in Gooderham’s real estate market.
