Iroquois, 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
Current Market Conditions and Trends
The real estate market in Iroquois, Ontario, is currently experiencing steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This growth rate indicates a healthy demand for housing in the area, reflecting both local economic stability and a potential influx of new residents.
Apartments in Iroquois are also seeing an upward trend in pricing, though at a slightly more modest rate. The median apartment price stands at $300,000, with an annual appreciation of 2.1%. This difference in growth rates between houses and apartments may suggest varying levels of demand or possibly a shift in investor focus towards more affordable housing options.
The population of Iroquois is approximately 15,000 residents, and it has grown by 7.1% recently. This significant population increase is likely contributing to the rising demand for housing and supporting the overall positive trends observed in the market.
Investment Opportunities and Potential
Iroquois presents several attractive investment opportunities within its real estate market. Given the consistent growth in housing prices and the solid population increase, investors can reasonably expect continued appreciation in property values over the medium term.
The higher rate of appreciation for houses compared to apartments could indicate that single-family homes are particularly sought after at this time, potentially making them a sound investment choice. However, the steady growth in apartment prices also points to a robust rental market or interest from those seeking more affordable entry points into homeownership.
Given these conditions, investing in either residential segment could offer promising returns. Investors should consider both the current trends and their own investment objectives when evaluating properties in Iroquois.
Future Market Outlook
The outlook for Iroquois’ real estate market remains optimistic due to several key indicators. The consistent year-over-year price increases for both houses and apartments signal ongoing demand. Furthermore, the substantial population growth suggests that this demand may continue or even accelerate as new residents move to the area seeking employment opportunities or lifestyle changes.
The local economy’s performance will play a crucial role in sustaining this positive trajectory. If economic conditions remain favorable and support job creation, it is likely that the real estate market will continue to thrive.
In conclusion, careful monitoring of economic indicators and demographic trends will be essential for accurately forecasting future market conditions. Nonetheless, current data points towards a stable and growing real estate environment in Iroquois.
