Gormley, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $1,180,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $600,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $900,000 |
| 3 bedrooms | $1,150,000 |
| 4 bedrooms | $1,350,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $500,000 |
| 2 bedrooms | $650,000 |
| 3 bedrooms | $800,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 5,500 |
| Occupied Private Dwellings | 5,000 |
| Population Density (per km²) | 2.7 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Gormley, Ontario is currently experiencing a period of steady growth. With a median house price of $1,180,000, the market has seen a year-over-year increase of 4.2%. This indicates a healthy demand for single-family homes in the area. Likewise, the median apartment price stands at $600,000, with a more modest annual growth of 2.5%. The population of Gormley has reached approximately 15,000 residents with a notable growth rate of 3.4%, suggesting a burgeoning community that is attracting new residents and investment.
Investment Opportunities and Potential
The consistent rise in property values coupled with the growing population suggests that Gormley holds significant potential for real estate investment. The residential sector appears particularly promising due to the sustained increase in both housing types’ values. Investors should take note of the strong performance of single-family homes, which are outpacing apartments in terms of appreciation. This could be indicative of a market preference for detached or semi-detached living spaces, possibly driven by family-oriented demographics or individuals seeking more space.
Future Market Outlook
The future outlook for Gormley’s real estate market remains optimistic given current trends and demographic indicators. The steady population growth ensures ongoing demand for housing, which is likely to sustain property value appreciation. Moreover, as the region develops further and attracts more amenities and services, it can potentially trigger higher rates of appreciation within the market. Investors and homebuyers considering Gormley should monitor infrastructure developments and municipal planning initiatives, as these will play crucial roles in shaping the future landscape and desirability of the area.
