Jerseyville, 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 Jerseyville, Ontario, currently presents a stable growth environment. The median house price in the area stands at $500,000, which represents a 3.5% year-over-year increase. This suggests a healthy demand for single-family homes and a competitive market that could be attractive to both homebuyers and investors seeking appreciation potential.
In the apartment sector, the median price is $300,000, with a more modest growth trend of 2.1% year-over-year. This slower pace of increase may indicate a more balanced market or could be an opportunity for investors to enter the market before potential acceleration in prices.
The population of Jerseyville has reached approximately 15,000 residents, with robust growth recorded at 7.1%. This demographic expansion can be a driver for increased housing demand, further supporting the positive trends seen in property values.
Investment Opportunities and Potential
Given the steady increase in property values and significant population growth, Jerseyville offers promising investment opportunities. Single-family homes seem to be leading the way in terms of appreciation, which could benefit investors looking for capital gains over time. Additionally, rental properties could also provide sustained income as the population increase may lead to higher demand for rental accommodations.
The slower growth rate in apartment prices compared to houses suggests that there may be untapped potential in this sector. Investors might consider acquiring apartments to cater to different segments of the market such as young professionals or smaller families.
Furthermore, with population growth outpacing many other regions, new development projects could also be a viable option. There’s potential for both residential and mixed-use developments that meet the needs of Jerseyville’s expanding community.
Future Market Outlook
The future outlook for Jerseyville’s real estate market appears optimistic. The combination of steady house price appreciation and significant population growth sets a firm foundation for ongoing demand. If current trends continue, it is likely that property values will keep rising, although it’s important to monitor economic factors that could affect affordability and mortgage rates.
Demand for housing is expected to remain strong if the region continues to attract new residents at a similar or greater rate. This will likely result in continued investment opportunities across all sectors of the real estate market. However, investors should stay informed about local developments and infrastructure improvements that could impact property values positively or negatively.
In summary, Jerseyville represents an area with solid fundamentals for real estate investment currently and retains promise for future growth.
