Gowganda, 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 in Gowganda, Ontario
The real estate market in Gowganda, Ontario is currently experiencing a phase of steady growth. With a median house price sitting at $500,000 and exhibiting an upward trend of 3.5% year-over-year, the market is showing healthy progression. This increase is reflective of the broader provincial trends, where demand for housing continues to be strong.
Similarly, the median apartment price has been set at $300,000 with a growth trend of 2.1% year-over-year. This slower growth rate compared to houses indicates a potentially higher demand for single-family homes, which could be driven by demographic trends such as an increase in family formation within the region.
The local population stands at 15,000 with an impressive growth rate of 7.1%, outpacing many other areas in the province. This significant increase suggests that Gowganda is becoming an increasingly attractive destination for both individuals and families looking for residential opportunities away from the more saturated urban centers.
Investment Opportunities and Potential in Gowganda
Given the steady appreciation in property values and robust population growth, Gowganda presents several attractive investment opportunities. The consistent rise in house prices implies that investments in residential real estate could yield solid returns over time. The lower rate of appreciation for apartments could indicate a potential gap in the market; investors might explore developing or refurbishing apartment units to cater to segments of the population looking for more affordable housing options or rental properties.
Furthermore, with the population expanding rapidly, there may be unmet needs for retail spaces, services, and amenities that support community growth. Savvy investors could capitalize on these needs by investing in commercial real estate or mixed-use developments that combine residential and commercial spaces.
Future Market Outlook for Gowganda
The future market outlook for Gowganda remains optimistic. The robust population growth is expected to continue fueling demand for housing in both purchase and rental markets. As long as this demographic trend persists, real estate values are likely to maintain their upward trajectory—a positive sign for homeowners and investors alike.
Additionally, if current economic conditions hold steady and interest rates remain favorable, we can anticipate sustained investment interest in both residential and commercial sectors. One caveat to bear in mind is that external macroeconomic factors can impact local markets; thus, it’s advisable for investors to remain vigilant about shifts in interest rates or employment patterns that might affect housing affordability and investment attractiveness.
In conclusion, Gowganda’s real estate market is currently on a path of healthy growth with promising indicators for continued development. Both housing data trends and demographic momentum point towards a flourishing market with ample opportunities for astute investors seeking long-term value.
