Hearst, 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 real estate market in Hearst, Ontario is currently experiencing a steady growth pattern as indicated by the year-over-year trends. The median house price stands at $500,000, reflecting a growth rate of 3.5%. This suggests that the market is healthy and that properties are appreciating at a moderate pace.
Similarly, the median apartment price has seen an increase to $300,000, with a growth trend of 2.1% year-over-year. This slower growth rate compared to houses may indicate a slightly softer demand for apartments or a larger inventory relative to demand.
The population of Hearst has been growing at a notable rate of 7.1%, which may contribute to the increased demand for housing in the area. This demographic trend suggests potential for continued market expansion as more people seek residences in Hearst.
Investment Opportunities and Potential
The consistent upward trend in property values coupled with significant population growth presents attractive investment opportunities in Hearst’s real estate market. Investors could expect capital appreciation given the current trajectory of home prices. The increase in population is likely to drive demand for both purchase and rental properties, thus providing potential for rental income alongside property value increases.
Houses seem to be the preferred asset class, given their higher appreciation rate. However, apartments could present a lower barrier to entry for investors due to their lower median price point, along with opportunities for income diversification if converted into rental units.
Future Market Outlook
The future outlook for Hearst’s real estate market remains optimistic based on current data trends. Population growth is likely to continue serving as a fundamental driver for housing demand. As long as this demographic momentum persists, the real estate market should maintain its upward trajectory.
The moderate increase in property prices indicates a balanced market that could benefit from sustainable long-term growth without the immediate risk of overheating or creating affordability issues that can lead to sharp corrections.
Investors and homebuyers should monitor economic factors such as employment rates, interest rates, and regional economic development initiatives that can impact the market dynamics further. Nevertheless, Hearst’s current indicators suggest it is an appealing market for both residential living and investment purposes.
