Grafton, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The Grafton, Ontario real estate market is currently experiencing a period of steady growth, as evidenced by the year-over-year increase in property values. The median house price in Grafton stands at $520,000, which represents a 4.2% increase from the previous year. This suggests a healthy demand for single-family homes that are appreciating at a moderate pace.
Similarly, the apartment sector has observed growth, albeit at a slightly slower rate. With median apartment prices at $310,000 and witnessing a 2.5% year-over-year increase, the market for apartments is expanding but remains less vigorous compared to houses.
The population of Grafton has reached approximately 15,500 residents, with a notable population growth rate of 3.3%. This demographic trend is likely contributing to the demand for housing in the area and supporting the overall market expansion.
Investment Opportunities and Potential
The sustained growth in property values indicates that Grafton presents attractive investment opportunities, especially in the single-family home segment. Investors can capitalize on the 4.2% appreciation rate of houses as this trend offers potential for capital gains over time. Additionally, with a strong population growth rate, there will likely be an enduring demand for rental properties, making buy-to-rent investments appealing.
Apartments offer a more accessible entry point into the real estate market due to their lower median price point. Although their appreciation rate is lower than that of houses, they may provide investors with opportunities for long-term investment and diversification of their real estate portfolio.
Future Market Outlook
The future outlook for Grafton’s real estate market remains optimistic given the current trends and demographic data. Should the population continue to grow at or above the current rate of 3.3%, it can be expected that demand for housing will remain strong. This could sustain or potentially increase the appreciation rates of both houses and apartments.
However, it is crucial for investors to monitor economic factors such as employment rates, interest rates, and regional development projects which can significantly impact market conditions. For now, with positive growth indicators and favorable demographic trends, Grafton’s real estate market appears poised for continued health and vitality in both the near and longer term.
