Hillier, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
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 | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $270,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 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 Hillier, Ontario is currently experiencing a steady growth with the median house price standing at $525,000, reflecting a 4% year-over-year increase. This increment signals a healthy demand for houses in the area, likely driven by Hillier’s appealing characteristics and amenities. Similarly, the median apartment price has seen a rise to $320,000, with a 2.5% year-over-year growth trend. The population of Hillier has also been on an upward trajectory, boasting a 3.3% growth rate. This demographic expansion suggests that the housing market could maintain its momentum as more people seek residency in the area.
Investment Opportunities and Potential
The consistent population growth paired with increasing property values indicates promising investment opportunities in Hillier. With houses appreciating at a faster rate than apartments, investors might find greater potential in single-family homes or developments catering to this demand. However, apartments offer a more affordable entry point into the market and could appeal to first-time homebuyers or those seeking rental investments due to their lower price point and solid appreciation trend. The diversity in property types enriches the investment landscape, presenting options for various investment strategies and portfolios.
Future Market Outlook
Looking forward, the Hillier real estate market appears poised for continued growth. The sustained increase in both house and apartment prices implies that the market retains its strength amid rising demand. With the local population expanding at a robust rate of 3.3%, housing demands are likely to escalate which may further drive property valuations up. Investors and homebuyers should remain optimistic about the long-term prospects of Hillier’s real estate market but must also stay vigilant of broader economic factors that could affect future trends. A prudent approach would be to monitor interest rates, employment figures, and regional developments which all play integral roles in shaping the housing market dynamics.
