Harlem, 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
1. Current Market Conditions and Trends
The real estate market in Harlem, Ontario is currently experiencing steady growth. With a median house price of $500,000 and an annual appreciation rate of 3.5%, the housing sector is showing consistent upward momentum. Similarly, apartments in Harlem are becoming increasingly valuable, with median prices at $300,000 and witnessing a 2.1% year-over-year increase.
The population of Harlem stands at 15,000 residents with a robust growth rate of 7.1%. This population influx is likely contributing to housing demand, which in turn fuels the positive price trends observed in both the house and apartment markets. The balanced growth between houses and apartments suggests a diversified demand catering to different segments of buyers and renters in Harlem.
2. Investment Opportunities and Potential
Investors considering the Harlem real estate market have several factors working in their favor. The consistent growth in property values indicates a healthy market with potential for capital gains over time. Single-family homes, with their higher year-over-year price increase, may offer more significant appreciation potential; however, apartments also present an attractive opportunity for those looking to invest in rental properties—especially given the population growth which could boost rental demand.
The current median prices are approachable for investors looking to enter the market without the barrier of extremely high entry costs seen in some larger urban centers. As the population continues to grow, there may be an increased need for development projects including both residential and mixed-use buildings to accommodate the housing needs of new residents.
3. Future Market Outlook
The future outlook for Harlem’s real estate market remains optimistic based on current trends and data. Continued population growth could sustain or even increase demand for housing, potentially leading to further price appreciations for both houses and apartments. If economic conditions remain favorable and the local job market expands alongside the population, this trend seems sustainable in the medium term.
It is important for investors to keep an eye on infrastructure developments and municipal planning initiatives as these could impact future property values significantly. Any major improvements in transportation or local amenities could make Harlem even more attractive to potential residents and thereby boost the investment potential further.
In conclusion, Harlem’s real estate market appears well-positioned for continued growth with solid investment opportunities across various sectors of the housing market. Stakeholders should monitor local development plans closely as they can provide insights into areas that might see accelerated growth or increased desirability in coming years.
