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
In Harriston, Ontario, the real estate market is currently experiencing moderate growth in property values. The median house price in the region stands at $500,000, reflecting a year-over-year increase of 3.5%. This increment signals a healthy and stable market trend that is favorable for both homeowners and investors. Similarly, apartments are witnessing growth with a median price of $300,000 and an annual appreciation rate of 2.1%. These statistics suggest a consistent upward trajectory in property values, although at a relatively modest pace compared to the national average.
Investment Opportunities and Potential
Given the current market dynamics, Harriston offers promising investment opportunities. The steady increase in property prices indicates a sound potential for capital gains over the long term. Investors looking to enter the residential real estate market might find attractive prospects particularly in single-family homes given their stronger year-over-year price trend compared to apartments.
Moreover, the population of Harriston has grown by 7.1%, a factor that could contribute to increased housing demand and rental market opportunities. This demographic expansion provides a fertile ground for real estate developers and investors seeking to capitalize on potential housing shortages or to cater to the growing rental market segment.
Future Market Outlook
The future real estate market outlook for Harriston appears optimistic. Population growth is likely to continue serving as a catalyst for demand in housing, thereby supporting property value appreciation. If current trends persist, investors can expect sustained growth in the medium to long term, barring any unforeseen economic disruptions.
With infrastructure development keeping pace with population growth and economic activity within Harriston on the rise, it’s reasonable to anticipate that both residential and commercial real estate markets will remain robust. Careful monitoring of interest rate trends and economic policies will be crucial for stakeholders to maximize their investment returns while mitigating risks associated with market fluctuations.
