Harrowsmith, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Harrowsmith, Ontario is currently experiencing steady growth. The median house price in the area stands at $525,000, with a year-over-year increase of 4%. This indicates a healthy demand for housing, likely driven by favorable local economic factors and the attractiveness of Harrowsmith as a residential community. On the other hand, the apartment market is also showing growth but at a slightly more modest pace. The median apartment price is $320,000, up 2.5% from the previous year. This slower rate of increase may point to a more competitive market or greater supply for apartments.
Investment Opportunities and Potential
Given the current trends, Harrowsmith presents several attractive investment opportunities. The consistent increase in house prices suggests that purchasing residential property could yield solid returns, especially if the trend continues. For those looking to invest in apartments, the lower rate of price increase suggests there might be opportunities to enter the market at a more accessible price point. Additionally, with a population growth rate of 3.3%, above the national average, there is potential for continued demand for housing which could support rental income stability and property value appreciation over time.
Future Market Outlook
The future market outlook for Harrowsmith appears positive. The robust population growth of 3.3% positions the town for ongoing demand in housing. Coupled with the steady upward trend in property values, both houses and apartments are likely to remain attractive investment assets moving forward. As long as economic conditions remain stable and Harrowsmith continues to offer a desirable quality of life, we can expect the real estate market to maintain its upward trajectory in both price and demand.
