Hickson, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Hickson, Ontario, the real estate market is currently characterized by steady growth. With a median house price of $500,000 and an annual increase of 3.5%, the market is demonstrating resilience despite broader economic pressures. The median apartment price stands at $300,000, which has seen a somewhat lower year-over-year appreciation of 2.1%. This data suggests that single-family homes are in higher demand compared to apartments, though both sectors show positive growth.
The population of Hickson has grown to 15,000 residents, marking a significant growth rate of 7.1%. This influx of new residents may be contributing to the increased demand for housing and the corresponding rise in property values.
Investment Opportunities and Potential
Given the steady appreciation rates for both houses and apartments in Hickson, investment opportunities appear promising. The consistent year-over-year growth indicates a healthy market with potential for long-term gains. Investors looking to capitalize on the single-family home segment may find particular value given its higher rate of appreciation.
Moreover, with a strong population growth figure, there is likely to be sustained demand for housing which bodes well for rental market prospects as well. Investors could potentially benefit from purchasing rental properties now to take advantage of future rent increases driven by the growing population.
Future Market Outlook
The future market outlook for Hickson remains optimistic based on current trends. If the population continues to grow at a robust rate of 7.1%, demand for housing is expected to remain strong. This could result in continued or even increased rates of price appreciation over time.
However, investors should remain cognizant of broader economic factors that could impact interest rates and borrowing costs. Additionally, local developments such as infrastructure projects or changes in zoning laws could have positive or negative effects on property values.
In conclusion, while there are always risks associated with real estate investments, Hickson’s current market conditions and trends suggest a favorable environment for both short-term and long-term real estate investment strategies.
