Ignace, 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 Ignace, Ontario is currently experiencing steady growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This indicates a healthy demand for housing in the area. Similarly, the median apartment price is currently at $300,000, which has seen a slightly lower but still positive year-over-year trend of 2.1%. The population of Ignace has reached approximately 15,000 people, and with a substantial population growth rate of 7.1%, the demand for housing is likely to continue its upward trajectory.
Investment Opportunities and Potential
The consistent increase in property values coupled with significant population growth suggests that Ignace offers promising investment opportunities. The housing market demonstrates resilience and potential for capital appreciation, making it attractive for both short-term investors looking to capitalize on rental income and long-term investors banking on continued appreciation. With the median house price being relatively affordable compared to larger urban centers, Ignace presents an entry point for investors seeking to diversify their portfolio in smaller markets.
Future Market Outlook
The future outlook for Ignace’s real estate market remains optimistic due to ongoing population growth and economic stability in the region. Assuming current trends continue, we can expect sustained increases in property values over the coming years. However, potential investors should also be aware of external factors such as interest rate changes, government policy, and economic shifts which could impact the market dynamics.
