Gorrie, 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 Gorrie, Ontario, is currently experiencing steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market demonstrates resilience and a consistent upward trend. The median apartment price stands at $300,000, which has seen a slightly lower year-over-year growth of 2.1%. The positive trends in both housing and apartment prices are indicative of a healthy demand in the regional real estate market.
The population of Gorrie has recently reached 15,000 residents, with a robust growth rate of 7.1%. This significant demographic expansion is contributing to the increased demand for housing and can be attributed to several factors such as economic opportunities, lifestyle preferences, and the attractiveness of Gorrie as a residential community.
Investment Opportunities and Potential
Given the current market conditions, there are promising investment opportunities within Gorrie’s real estate sector. The steady growth in house prices suggests that investing in residential properties could yield favorable returns over time. Furthermore, the strong population growth serves as an indicator that rental properties may also be a wise investment due to potential increases in rental demand.
Investors should consider both the existing market trends and local economic drivers when evaluating potential investments in the area. With careful analysis and strategic selection of properties, investors can capitalize on the town’s growing market and demographic trends to achieve long-term capital appreciation and income generation.
Future Market Outlook
The future outlook for Gorrie’s real estate market appears optimistic based on current trends and demographic data. Assuming that the region continues to attract new residents and maintains its economic stability, demand for housing is likely to remain strong or even increase further.
Continued population growth at a similar or greater rate will likely stimulate further development in housing infrastructure and amenities. As long as these conditions persist, the real estate market in Gorrie should maintain its trajectory of gradual growth, making it an attractive location for both homebuyers and investors alike.
However, it is important for stakeholders to monitor external economic factors that could impact interest rates, employment levels, and overall affordability which could affect the market dynamics. Keeping abreast of such changes will be crucial for making informed decisions in this evolving marketplace.
