Harrington, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $345,000 |
| 3 bedrooms | $445,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
In Harrington, Ontario, the real estate market is currently experiencing moderate growth. With a median house price of $485,000 and a year-over-year increase of 3.2%, the market is showing steady appreciation. Similarly, the median apartment price has also seen a positive trend, with a 2.5% rise over the past year to reach $295,000. These trends indicate a healthy demand for housing in the region.
The population of Harrington stands at 15,000 and has been growing at a rate of 3.4%, suggesting an expanding community that could continue to drive demand in the housing market. While these statistics present a snapshot of current conditions, it’s important for potential investors and homeowners to monitor local economic factors, interest rates, and inventory levels as they can significantly affect market dynamics.
2. Investment Opportunities and Potential
The current growth in property values, alongside the population increase in Harrington, presents attractive investment opportunities. The rising demand for housing could benefit investors looking to purchase residential properties for long-term appreciation or rental income. With house prices appreciating at a slightly higher rate than apartments, single-family homes might offer more significant capital gains potential.
However, apartments should not be overlooked as the lower entry price point may provide opportunities for first-time investors or those seeking to diversify their portfolio with smaller investments. Additionally, the steady growth rate suggests that there is less volatility in this market compared to others with more rapid price fluctuations, which could appeal to investors prioritizing stability over high-risk/high-reward scenarios.
3. Future Market Outlook
The future outlook for Harrington’s real estate market remains cautiously optimistic based on current trends and demographic data. The consistent population growth implies that the demand for housing will likely persist, potentially leading to further property value increases unless there is a significant change in local economic conditions or an increase in housing supply.
Investors and homebuyers should be aware that external factors such as changes in government housing policies, interest rates adjustments by the Bank of Canada, or broader economic shifts can impact future market performance. As these variables are challenging to predict accurately over the long term, maintaining vigilance on both national and local economic indicators will be crucial for making informed real estate decisions in Harrington.
