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 | $420,000 |
3 bedrooms | $500,000 |
4 bedrooms | $620,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $260,000 |
2 bedrooms | $340,000 |
3 bedrooms | $460,000 |
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
In Howick, Ontario, the real estate market is currently experiencing stable growth. The median house price stands at $500,000 with a year-over-year increase of 3.5%. This steady appreciation in home values reflects healthy demand and suggests that the market is balancing well between buyers and sellers. Similarly, the apartment sector is also showing positive movement with a median price of $300,000 and a more modest annual increase of 2.1%. The consistent growth in both sectors indicates an overall robustness in the local real estate market.
Investment Opportunities and Potential
For investors considering Howick’s real estate market, there are promising opportunities for both short-term gains and long-term investment. The ongoing appreciation trend in house prices presents potential for capital gains for those looking to invest in residential properties. Furthermore, the population of Howick has grown by 7.1%, suggesting an expanding rental market due to increased housing demand. This demographic shift could translate into higher rental yields for apartment buildings and multi-unit residential properties.
Future Market Outlook
The future outlook for Howick’s real estate market appears optimistic based on current trends and demographic data. With a solid population growth rate of 7.1%, it’s expected that the demand for housing will continue to rise, potentially leading to further increases in property values and rental rates. The steady growth in house prices at 3.5% year-over-year along with a similar trend in apartments at 2.1% suggests that the market is likely to maintain its momentum moving forward, barring any unforeseen economic shifts or policy changes that could impact buyer sentiment or financing conditions.