Katrine, 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 Katrine, Ontario, currently exhibits steady growth. With a median house price of $500,000 and a year-over-year growth rate of 3.5%, the market is showing resilience and a positive trend in property values. This rise suggests a healthy demand for single-family homes, with the potential for continued appreciation in the near future.
Similarly, the apartment sector also demonstrates growth, albeit at a slightly slower pace with a 2.1% year-over-year increase in median prices now standing at $300,000. This difference in growth rates between houses and apartments may indicate a higher demand for more spacious living accommodations or could reflect a market where investment in single-family homes is more sought after.
With a population of 15,000 that has risen by 7.1%, Katrine is experiencing notable demographic growth which could be driving the housing demand upwards. An expanding population often leads to increased housing demand, which in turn can push prices upward if the supply does not keep pace.
Investment Opportunities and Potential
The current trends suggest that investment opportunities within Katrine are promising, particularly in the housing sector. The consistent appreciation of house prices points to a stable market that could offer good returns for both short-term flippers and long-term investors. Real estate investors should consider capitalizing on the growing population by investing in properties that will appeal to new residents.
Apartments present an interesting opportunity as well, especially for those looking to tap into the rental market or provide more affordable housing options. As the population grows, there is likely to be an increased need for diverse types of housing, including apartments catering to singles, young professionals, or small families.
Investors should also monitor local development plans and infrastructure improvements which could significantly impact property values. Areas slated for new amenities or improved services may become hotspots for future real estate activity.
Future Market Outlook
The future outlook for Katrine’s real estate market appears positive based on current trends and demographic data. Assuming no major economic disruptions occur, the steady population growth coupled with continuous property value appreciation indicates a robust market ahead.
However, potential investors and homeowners should remain cognizant of factors such as interest rates changes, economic policies affecting real estate markets broadly, and local developments specific to Katrine that could impact future trends.
In conclusion, based on current data and trends observed over the past year, Katrine’s real estate market offers strong opportunities for investment with favorable conditions expected to persist into the foreseeable future. As always though, it is crucial for stakeholders to remain informed and exercise due diligence when making real estate decisions.
