Griffith, 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 Griffith, Ontario is currently experiencing stable growth. The median house price in the region is $500,000, with a year-over-year increase of 3.5%. This suggests a healthy demand for housing and a robust market that is steadily appreciating. The median apartment price is also on an upward trajectory at $300,000, marking a 2.1% year-over-year increase. Such growth in property values can be indicative of a strong rental market alongside buyer interest in more affordable and versatile living spaces.
Investment Opportunities and Potential
The positive trends in Griffith’s housing market point to promising investment opportunities. With the population having grown 7.1%, there is an increasing demand for residences in the area. Investors might find particular value in the burgeoning apartment sector, which offers a more accessible entry point at $300,000. Single-family homes, while more expensive with a median price of $500,000, present an opportunity for long-term appreciation given the steady annual growth rate of 3.5%. The current market conditions suggest that investments made today have strong potential for future gains as the region continues to grow and attract new residents.
Future Market Outlook
Looking forward, Griffith’s real estate market appears poised for continued growth. The significant population increase of 7.1% over recent years is likely to sustain demand for housing, potentially pushing property values higher. Assuming the local economy remains stable and supportive of the real estate sector, both the house and apartment markets should maintain their upward trajectory. However, investors and homebuyers should consider economic variables such as interest rates, employment rates, and regional development plans that could impact future market conditions.
