Jellicoe, 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
The real estate market in Jellicoe, Ontario, shows a steady increase in property values. Currently, the median house price stands at $500,000, which marks a 3.5% growth year-over-year. This suggests a healthy demand for single-family homes and a stable investment environment for homeowners and investors alike.
In the apartment sector, the market is also experiencing growth, albeit at a slower pace. The median apartment price is registered at $300,000, with an annual appreciation of 2.1%. This indicates sustained interest in multi-family dwellings but perhaps points to a more price-sensitive segment compared to the detached housing market.
The population of Jellicoe has reached approximately 15,000 residents and has seen significant growth of 7.1%. This demographic trend often correlates with increased housing demand, which could contribute to the progressive appreciation rates observed across the housing types.
2. Investment Opportunities and Potential
With the ongoing positive trends in both housing and apartment markets in Jellicoe, there are noteworthy investment opportunities. The consistent rise in median house prices presents potential for capital gains for long-term property investors. Single-family homes seem to be particularly attractive investments due to their higher growth rate compared to apartments.
Despite the slower growth rate for apartments, they offer an accessible entry point for new investors or those looking for lower-maintenance properties. With the population continuing to grow robustly, rental demand is likely to remain strong, providing potential for solid rental yields alongside moderate capital appreciation.
Investors should also consider local economic factors, development projects in the area, and infrastructure improvements that could positively impact property values in both segments of the market over time.
3. Future Market Outlook
The future market outlook for Jellicoe’s real estate appears optimistic given current trends and demographic indicators. The sustained population growth serves as a fundamental driver of housing demand and may continue to underpin positive market dynamics going forward.
If current trends persist or improve, homeowners and investors could expect continued modest appreciation in property values across both houses and apartments. However, as with any investment, potential changes in economic conditions, interest rates, and government policies must be monitored as they can significantly influence market performance.
In conclusion, Jellicoe’s real estate market presents a favorable environment with steady growth prospects supported by demographic expansion. Both homebuyers and investors should maintain an attentive eye on market indicators while considering long-term strategies aligned with these positive local developments.
