Hammond, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $625,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,300 |
| Previous Population (2020) | 15,000 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,100 |
| 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 Hammond, Ontario, is currently experiencing a period of steady growth. With a median house price of $525,000, which reflects a 4% year-over-year increase, the market is demonstrating resilience and progressive strengthening. Similarly, the median apartment price stands at $320,000, showing a more modest yet consistent growth pattern with a 2.8% year-over-year increase. The population of Hammond is 15,300 and has been growing at a rate of 2% per annum. This suggests a consistent demand for housing driven by the population increase, which supports the ongoing upward trend in property values.
Investment Opportunities and Potential
Investment opportunities within Hammond’s real estate market appear to be promising given the current trends. The continuous rise in median house prices indicates a strong potential for long-term capital gains for those investing in residential properties. Moreover, with apartment prices also on the rise but at a slightly slower pace, there may be opportunities for investors looking to cater to different segments of the market such as first-time buyers or those seeking more affordable housing options. The steady population growth ensures that there will be an enduring demand for rental properties, which could benefit investors looking for stable rental income alongside property appreciation.
Future Market Outlook
The future outlook of Hammond’s real estate market remains optimistic based on the present data trends and demographic indicators. Assuming that the economic conditions remain favourable and the local job market stays robust, one can anticipate continued growth in both property values and rental demand. Infrastructure developments and community investments could further enhance this positive trajectory. However, potential investors should also consider external factors such as interest rate changes and national economic policies that might impact the local real estate market dynamics.
