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 currently presents a stable environment with modest growth. The median house price stands at $500,000, indicating a year-over-year increase of 3.5%. This growth trend suggests that the market is experiencing steady demand, with appreciation rates that can protect homeowners against inflation without overheating the market.
Similarly, the median apartment price has reached $300,000, which shows a smaller yet consistent annual increase of 2.1%. This slower growth rate in the apartment sector might reflect a more significant interest in spacious housing options or a saturation of the apartment market. However, it still represents a positive trend for property values overall.
The population of Gorrie is currently around 15,000 residents and has seen an impressive growth of 7.1%. Population increases often lead to higher demand for housing, which may put upward pressure on property prices and reduce inventory levels if supply cannot keep pace.
Investment Opportunities and Potential
The real estate market in Gorrie offers solid investment opportunities. Given the steady growth in housing prices and the significant population increase, there is potential for both short-term gains through property flipping and long-term wealth accumulation via rental properties.
Investors should consider single-family homes due to their higher appreciation rate compared to apartments. These properties could be especially attractive to new families or individuals looking for more space—a demand likely fueled by the town’s growing population.
For those interested in the rental market or more affordable investment options, apartments could be appealing despite their slower price growth. The ongoing need for rental units might increase as newcomers seek temporary housing solutions before committing to homeownership.
Future Market Outlook
Moving forward, the real estate market in Gorrie is likely to continue on its path of steady growth. The robust population increase suggests that demand will persist, which should support property prices and potentially lead to further investments in residential development projects.
If current trends prevail, one can expect continued moderate price increases across various types of properties. Nevertheless, potential investors and homeowners should stay informed about local economic factors and development plans that could impact the market dynamics.
In conclusion, while any investment carries risk, Gorrie’s real estate market shows promise due to its healthy growth rates and expanding population. Stakeholders would do well to monitor these trends closely while considering their investment strategies or home-buying decisions.
