Harwood, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $480,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Harwood, Ontario, currently demonstrates a consistent growth pattern. The median house price in the region is $525,000, reflecting a 4% year-over-year increase. This signifies a steadily appreciating market that could encourage homeownership as a stable investment. Similarly, the median apartment price stands at $320,000, which has risen by 2.5% year-over-year. These trends suggest moderate growth for both housing types, though houses are appreciating at a slightly faster rate than apartments.
A contributing factor to these conditions is the local population of 15,500 which has seen a healthy growth rate of 3.3%. Such demographic expansion can lead to increased demand for housing, potentially exerting upward pressure on property prices in the future.
Investment Opportunities and Potential
The real estate market in Harwood offers promising investment opportunities. The steady appreciation of house and apartment prices indicates a resilient market with potential for capital gains over time. Investors should consider both single-family homes and apartments, as the demand for rental properties may rise alongside the growing population.
The more robust growth in house prices suggests that single-family homes may offer better long-term appreciation potential, whereas apartments could be an attractive option for those looking to capitalize on rental income in a market that may experience increased demand from smaller households or individuals.
Future Market Outlook
Moving forward, the outlook for Harwood’s real estate market remains positive. The sustained population growth of 3.3% is likely to continue fueling housing demand. If this demographic trend persists alongside current economic conditions, one can anticipate further gradual increases in property values.
However, investors and homebuyers should remain vigilant of external economic factors that could affect interest rates and borrowing costs. Keeping an eye on local development projects and infrastructure improvements could also provide insights into areas with the highest potential for appreciation.
In summary, Harwood’s real estate market appears set for continued growth with favorable conditions for both homebuyers and investors looking at medium to long-term horizons.
