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
Gowganda’s real estate market currently exhibits steady growth, with the median house price standing at $500,000, reflecting a year-over-year increase of 3.5%. This indicates a stable market with consistent appreciation in property value. In contrast, the median apartment price is set at $300,000, with a more modest year-over-year price trend of 2.1%. The difference in growth rates between houses and apartments suggests that single-family homes are in higher demand, potentially due to lifestyle preferences or demographic trends within the region.
The population of Gowganda has experienced robust growth, at a rate of 7.1%, which is well above national averages. This surge in population size often correlates with increased demand for housing, both owned and rented, thereby applying upward pressure on property values and rental rates alike.
Investment Opportunities and Potential
The positive growth trend in Gowganda’s population combined with the steady appreciation of property values presents multiple opportunities for real estate investment. The consistent increase in house prices suggests that investments in residential properties are likely to yield solid returns through capital gains over time. Additionally, the expanding population may also indicate potential for rental investments as more individuals and families seek housing within the community.
With apartments experiencing a lower rate of price increase compared to houses, investors might find value in this segment by targeting first-time homebuyers or downsizers who prefer more affordable and lower-maintenance living spaces. Moreover, investing in apartment complexes could cater to the rental market’s needs while capitalizing on long-term appreciation.
Future Market Outlook
The future outlook for Gowganda’s real estate market appears optimistic given the current trends and statistics. Should the population continue to grow at the reported rate, demand for housing will likely remain strong. This bodes well for both house and apartment prices, albeit with houses possibly leading the way if recent trends persist.
Investors considering entering or expanding within Gowganda’s market should monitor key indicators such as employment rates, economic development plans, and infrastructure improvements—all of which can further influence property values. While current indicators point towards a healthy market, external economic factors must also be considered when projecting future performance.
In conclusion, while no market is without risk, Gowganda presents an attractive profile for real estate investment based on current data and observable trends. Investors would be prudent to maintain vigilance over local and macroeconomic signals but can cautiously anticipate continued growth under current conditions.
