Grimsby, 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 Grimsby, Ontario is currently experiencing steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This increment is indicative of a healthy demand for housing in the region. Similarly, the apartment sector shows resilience with a median price of $300,000 and has witnessed a 2.1% uptick from the previous year.
Grimsby’s population stands at approximately 15,000 and has been growing at a robust rate of 7.1%. Such demographic expansion tends to exert upward pressure on real estate prices due to increased demand. The current market trends suggest that both housing segments are maintaining a steady pace, with single-family homes showing slightly stronger appreciation.
Investment Opportunities and Potential
The positive growth in property values combined with Grimsby’s increasing population highlights the potential for real estate investments in the area. The housing market’s performance—particularly the year-over-year increase in median house prices—suggests solid capital gains for long-term investors. Moreover, the burgeoning local economy and amenities are likely to attract more residents, potentially boosting rental demand.
Apartments present an attractive entry point for investors looking for lower initial investment requirements while still capitalizing on the town’s population growth. Given that apartment prices are increasing at a slightly slower rate than houses, there may be room for substantial upside as the market continues to gain momentum.
Future Market Outlook
Looking forward, Grimsby’s real estate market appears poised for continued growth. The persistent population increase is expected to maintain demand for housing across all sectors. Assuming no significant economic disruptions, the current trends suggest that both median house and apartment prices will continue to rise at a moderate pace.
Investors should consider the potential impact of external economic factors such as interest rates changes and broader regional developments that could affect Grimsby’s local economy. However, given the current data and assuming stable economic conditions, Grimsby’s real estate market presents promising opportunities for both owner-occupiers and investors alike in the medium to long term.
