Harriston, 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 current real estate market in Harriston, Ontario, is experiencing steady growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This suggests a healthy demand for single-family homes, likely driven by both local factors and broader provincial trends. Similarly, the median apartment price has seen a rise to $300,000, marking a 2.1% increase from the previous year. Apartments are growing in popularity among new entrants to the housing market and investors seeking lower-cost opportunities.
In terms of population, Harriston has seen significant growth recently with an increase of 7.1%, bringing the total to approximately 15,000 residents. This demographic expansion is indicative of an attractive community that may be drawing new residents for employment opportunities, lifestyle changes, or other amenities.
Investment Opportunities and Potential
Harriston presents several investment opportunities, particularly in the residential sector. The consistent growth in house prices reflects ongoing demand and offers a moderate appreciation potential for investors. Given the town’s population growth rate, demand for housing is expected to remain strong, which could sustain or even accelerate current upward pricing trends.
Investments in apartment properties could also be prudent given the slower yet stable price increases. Interest in apartments may continue to grow as affordability becomes an increasingly critical factor for many homebuyers and renters within Ontario’s real estate market.
The town’s development plans and economic initiatives could further enhance property values over time, suggesting that early investment in this rising market could yield significant returns for those willing to hold assets over the medium to long term.
Future Market Outlook
The outlook for Harriston’s real estate market remains optimistic. Continued population growth is likely to persist as more individuals and families are attracted to the area’s lifestyle and employment opportunities. This should maintain or boost demand for both houses and apartments.
If current trends continue, we can anticipate further moderate increases in property values. However, investors should monitor local economic conditions and development projects closely as these factors will play crucial roles in shaping the future of Harriston’s property market dynamics.
The stability of Canada’s overall economy and real estate sector will also impact Harriston’s market conditions. National policies on interest rates, housing regulations, and immigration could influence buyer activity levels both positively and negatively.
In summary, while there are always uncertainties in any real estate market forecast, Harriston presents itself as an appealing option for both residential homebuyers and investors based on current data trends and its future potential.
