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 is currently experiencing a phase of steady growth. The median house price stands at $500,000, which represents a 3.5% year-over-year increase. This suggests that the market is healthy and that property values are rising at a moderate pace. Meanwhile, the median apartment price is $300,000, with a slightly lower year-over-year growth rate of 2.1%. The differential in growth rates between houses and apartments may indicate a stronger demand for single-family homes.
With a population of 15,000 that has grown by 7.1%, Jerseyville is likely experiencing an influx of new residents or an increase in births over deaths. This population growth can be a driving factor behind the demand for housing, contributing to the upward trend in property prices.
Investment Opportunities and Potential
The current market trends show promising investment opportunities in Jerseyville’s real estate sector. The consistent rise in house prices points towards a stable environment for long-term capital gains. Single-family homes, being in higher demand as suggested by their higher growth rate compared to apartments, might offer particularly good investment potential.
Investors should also consider the growing population as a sign of potential rental demand, making buy-to-rent properties an attractive prospect. As such, both residential developments and individual properties could be lucrative investments for those looking to enter the rental market or expand their portfolio.
Future Market Outlook
The future outlook for Jerseyville’s real estate market remains optimistic. Given the solid current trends and ongoing population growth, it is reasonable to anticipate continued demand for housing. If the city can maintain its appeal through economic development and quality of life enhancements, property prices are likely to keep following an upward trajectory.
However, investors should remain aware of broader economic conditions and policy changes that could affect mortgage rates, housing affordability, and construction costs. Keeping an eye on these factors will be crucial for accurately forecasting market performance and mitigating potential risks.
