Killaloe, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.7% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Killaloe, Ontario
In Killaloe, Ontario, the real estate market is currently experiencing a steady growth phase. The median house price stands at $485,000, reflecting a modest year-over-year increase of 2.8%. This increment indicates a stable demand for single-family homes within the region. Similarly, the median apartment price has seen an upward trend with a 1.7% year-over-year increase, bringing it to $295,000. These figures suggest that while the market is not overheating, it maintains a consistent appreciation across different types of properties.
The population of Killaloe has reached approximately 15,000 residents with a robust growth rate of 3.4%. This demographic expansion underpins the rising demand for housing and supports the ongoing real estate market trends. An increase in population typically leads to a greater need for affordable housing options, which can have various impacts on both rental and purchase markets.
Investment Opportunities and Potential in Killaloe
Killaloe’s real estate market presents several investment opportunities. Given the solid growth in property values and the increasing population, investors may find potential in both residential and rental markets. The rising prices of homes suggest that purchasing property now could lead to capital gains over time as the market continues to appreciate. Additionally, the continuous influx of residents could translate into a high demand for rental properties, making buy-to-let investments particularly appealing.
Investors should note that while the current trends show steady growth, the moderate pace suggests that there is less risk of a sudden market correction or bubble formation. Long-term investment strategies are likely to benefit from the town’s growing economy and demographic trends.
Future Market Outlook for Killaloe
The future market outlook for Killaloe’s real estate remains optimistic based on current data and trends. The persistent population growth will likely continue to drive demand for housing in both purchase and rental sectors. If economic conditions remain favorable and employment rates stay high within the region, one can anticipate sustained or possibly increased rates of property value appreciation.
However, investors should remain cognizant of broader economic factors that could affect interest rates and borrowing costs. These external influences could potentially impact buyer affordability and market dynamics in Killaloe as well as elsewhere.
In summary, while bearing in mind potential macroeconomic shifts, Killaloe’s real estate market shows promise for continued growth and offers attractive opportunities for investors looking at long-term capital gains and stable rental yields.
