Grimsby, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $310,000 |
| Monthly growth | 1.0% |
| 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 | $460,000 |
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 real estate market in Grimsby, Ontario is currently experiencing steady growth. The median house price stands at $520,000, which represents a 4.2% year-over-year increase. This suggests a healthy demand for single-family homes, possibly driven by Grimsby’s appealing location and community amenities. Additionally, the median apartment price is $310,000, with a more modest growth trend of 2.5% year-over-year. The observed growth in apartment prices may reflect an increasing interest in more affordable and low-maintenance living spaces or investment properties.
Investment Opportunities and Potential
Grimsby offers various investment opportunities given its positive growth trends. The consistent increase in the median house price indicates potential for capital appreciation for single-family homes. As the population of Grimsby grows — currently at 15,500 with a 3.3% population growth rate — demand for housing is likely to continue, which could drive further price increases and provide good returns for real estate investors.
Apartments are also promising investments due to their lower entry price point and increasing value. Investors looking to cater to younger professionals or smaller households may find apartments particularly appealing as rental properties. Given the current market conditions, both long-term investment strategies focused on capital gains and short-term income-generating approaches through rentals appear viable in Grimsby’s real estate market.
Future Market Outlook
The future outlook for Grimsby’s real estate market remains optimistic. The consistent rise in property values coupled with significant population growth suggests that demand for housing will persist. Continued economic development within the region and potential infrastructure improvements can also contribute positively to property values over time.
In light of these factors, both residential properties and apartments are expected to maintain their upward pricing trajectory, albeit potentially at a more tempered pace as affordability concerns could eventually temper the rate of growth. Investors should monitor economic indicators, interest rates, and local developments closely to make informed decisions about entering or exiting the market at opportune times.
