Hull, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
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) | 14,500 |
| Population Change | 6.9% |
| 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 Hull, Ontario is currently experiencing a period of steady growth. The median house price in the region stands at $525,000, reflecting a year-over-year increase of 4%. This indicates a sustained demand for housing and a competitive market environment. Similarly, the apartment sector has seen a moderate price appreciation, with the median apartment price reaching $320,000 and growing at a rate of 2.5% over the past year. These trends are supported by a robust population growth rate of 6.9%, which implies an expanding consumer base and potential for increased housing demand in the near future.
Investment Opportunities and Potential
Considering the positive trajectory of Hull’s real estate market, investment opportunities appear promising, particularly in residential properties. The consistent rise in property values suggests that investing now could lead to significant capital gains as the market continues to mature. Furthermore, the strong population growth signals a sustained or increasing demand for rental properties, presenting an opportunity for investors looking to enter the buy-to-let market. With apartments appreciating at a slightly lower rate than houses, there may be potential for investors to capitalize on more affordable entry points in this segment while still benefiting from overall market growth.
Future Market Outlook
The future outlook for Hull’s real estate market remains optimistic. The current growth trends are projected to continue, driven by factors such as population expansion and economic development in the area. While the existing year-over-year increases in property values are substantial, they have not reached levels that would suggest an overheated or unsustainable market. Instead, these growth rates point towards a balanced market with room for further expansion. As long as the local economy remains stable and supportive of population growth, Hull’s real estate market is likely to remain an attractive destination for both homebuyers and investors alike.
