Highgate, 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
The real estate market in Highgate, Ontario, is currently experiencing a period of steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes, reflecting buyer confidence and a robust local economy. The median apartment price stands at $300,000, which has risen by 2.1% from the previous year. This slower growth rate suggests that the apartment market is somewhat less dynamic than the housing market but still maintains a positive upward trend.
Investment Opportunities and Potential
Given the current trends, there are several promising investment opportunities in Highgate’s real estate market. The consistent rise in house prices suggests that purchasing residential properties could yield significant returns over time. Investors looking to capitalize on rental income or long-term capital appreciation should consider both single-family homes and apartments. With the population growing at a substantial rate of 7.1%, demand for housing is likely to continue to increase, supporting rental income stability and potential property value appreciation.
Future Market Outlook
The future outlook for Highgate’s real estate market remains optimistic. The sustained population growth of 7.1% indicates an expanding local workforce and potentially rising demand for housing. If current economic conditions persist, we can expect continued growth in property values at a measured pace. Moreover, as more people move to the area, the need for development projects could spur opportunities in new construction and property development sectors. Stakeholders should monitor economic indicators closely but can generally expect a favorable investment climate going forward.
