Hurkett, 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 (2024) | 15,000 |
| Previous Population (2019) | 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
1. Current Market Conditions and Trends
In Hurkett, Ontario, the real estate market is exhibiting steady growth. The median house price in the region is currently standing at $500,000, with a year-over-year increase of 3.5%. This trend indicates a healthy demand for single-family homes and reflects a consistent appreciation in property values. Similarly, apartments are showing a positive trajectory, with the median price at $300,000 and an annual growth rate of 2.1%. These figures suggest that while the market is growing more moderately for apartments than houses, investment in multi-family dwellings remains attractive.
2. Investment Opportunities and Potential
As Hurkett’s population has expanded by 7.1%, reaching approximately 15,000 residents, the demand for housing has increased proportionately. This population influx creates significant investment opportunities for both residential developers and individual investors. The consistent rise in property values offers potential for capital gains over the long term. For investors focused on rental income, the growing population suggests a sustainable tenant base for both apartments and houses. Additionally, the more modest appreciation rate for apartments could present an affordable entry point into the real estate market for new investors.
3. Future Market Outlook
The future market outlook for Hurkett is optimistic based on current trends and demographic data. With a robust population growth rate of 7.1%, it can be inferred that demand for housing will continue to rise, potentially pushing property values higher over time. If current economic conditions persist and no significant market disruptions occur, we can expect continued moderate growth in house prices along with sustained interest in apartment living given its relative affordability. Investors should monitor local economic drivers such as employment rates and infrastructure developments, as these factors will play a critical role in shaping the future landscape of Hurkett’s real estate market.
