Irondale, 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 in Irondale, Ontario
The real estate market in Irondale, Ontario is currently characterized by moderate growth. The median house price in the area stands at $500,000, reflecting a year-over-year appreciation of 3.5%. This steady rise in housing prices indicates a healthy demand for residential properties, likely driven by the town’s growing population which has seen a 7.1% increase.
Similarly, the apartment sector is experiencing growth, albeit at a slightly slower pace with a 2.1% increase year-over-year, bringing the median apartment price to $300,000. This could suggest a more significant interest in single-family homes or that the apartment market is just beginning to catch up with broader market trends.
Investment Opportunities and Potential
The sustained growth in both house and apartment prices points towards a stable investment environment. For investors looking at long-term capital gains, single-family homes present an appealing opportunity given their higher year-over-year price increase compared to apartments. However, this does not discount the potential of investing in apartments, especially if aimed at catering to smaller households or individuals drawn by the population growth.
The current trends suggest that there is ongoing demand for housing which may be due to economic growth or an inflow of residents seeking employment or lifestyle changes in Irondale. Investors should also consider local economic drivers and any planned infrastructure developments which could further influence property values positively.
Future Market Outlook
Looking ahead, the real estate market in Irondale appears poised for continued growth. With a robust population increase of 7.1%, demand for housing is likely to remain strong which bodes well for property values. Should this demographic trend persist, it can be anticipated that both median house and apartment prices will continue on an upward trajectory.
However, investors should remain vigilant of external economic factors that could impact interest rates and lending conditions which in turn affect buyer affordability and real estate market dynamics overall. It is also important to monitor any shifts in migration patterns or changes in local industry that could alter the demand for real estate within Irondale.
In summary, with careful consideration of broader economic indicators and keeping an eye on local developments, investors can make informed decisions regarding opportunities within the Irondale real estate market.