Hopeville, 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 Hopeville, Ontario, currently displays a steady growth pattern. The median house price stands at $500,000, with a positive year-over-year trend of 3.5%. This indicates a sustained demand for single-family homes in the area. The market for apartments is also on the rise, albeit at a slightly slower pace, with a median price of $300,000 and an annual appreciation trend of 2.1%.
The population of Hopeville has been growing at a robust rate of 7.1%, which is likely contributing to the increased housing demand. This demographic expansion suggests that the real estate market is being driven by both local population growth and incoming residents who find Hopeville an attractive place to live.
Investment Opportunities and Potential
Investment opportunities in Hopeville are promising due to its growing population and consistent property value appreciation. The steady increase in median house prices reflects a market where investment in residential properties could yield positive returns over time. For investors looking at rental properties, the burgeoning apartment sector presents potential for income growth, especially as the median apartment price is rising at a sustainable rate of 2.1% year-over-year.
With the local economy potentially expanding alongside the population, investors may also find opportunities in commercial real estate. New businesses attracted by the growing population will seek commercial spaces, potentially leading to an appreciation of commercial property values.
Future Market Outlook
The future outlook for Hopeville’s real estate market is optimistic. If current trends continue, we can expect ongoing increases in property values and demand. The population growth rate of 7.1% suggests that the town will continue to expand, bringing more potential homeowners and renters into the market.
The consistent rise in housing prices also indicates that Hopeville may become increasingly desirable as a residential community, particularly if it can offer amenities and employment opportunities to match its growing population. Investors should monitor local economic developments closely, as these will be key indicators of long-term market sustainability.