Howick, 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 Howick, Ontario, has demonstrated steady growth over the past year. The median house price currently stands at approximately $500,000, showing a healthy annual increase of 3.5%. This indicates consistent demand and a robust housing market. Similarly, the median apartment price has seen an increase, currently at $300,000, which is up by 2.1% from the previous year.
The population of Howick has also grown significantly, with a rise of 7.1%, suggesting an influx of new residents and potential for increased housing demand. This demographic expansion may be attributed to Howick’s attractiveness for individuals seeking residential stability in a more rural setting while still being accessible to larger job markets in nearby urban centers.
Investment Opportunities and Potential
In light of the stable price appreciation, Howick offers promising investment opportunities for both residential properties and rental units. The consistent upward trend in property values provides investors with a relatively low-risk environment for capital gains over time. Additionally, as the population continues to grow, there will likely be an increased demand for both ownership and rental units.
For those looking at rental investments, the rising apartment prices suggest that the rental market is healthy and that landlords can expect modest but steady increases in rental income as the market matures. Given the current trends, investing in multi-unit residential properties could be particularly advantageous.
Future Market Outlook
The future market outlook for Howick is positive. With its current trajectory of population growth and property value increases, it is reasonable to anticipate continued demand for housing in this area. The sustained growth rate points towards ongoing development and investment in local infrastructure and amenities which can further enhance property values.
Investors should remain cognizant of national economic factors that could influence interest rates and borrowing costs; however, the inherent stability of Howick’s real estate market may buffer against short-term fluctuations seen elsewhere. Overall, Howick presents itself as an attractive market for both first-time homebuyers looking to enter the housing market and seasoned investors aiming to expand their portfolios.
