Kirkfield, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $475,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Kirkfield, Ontario is currently experiencing a moderate growth trend. With a median house price of $525,000 that has seen a year-over-year increase of 4%, the market demonstrates stability and steady appreciation. The median apartment price, at $315,000, has followed a similar upward trajectory with a more modest year-over-year increase of 2.5%. These trends indicate a healthy demand for housing in the area.
The population of Kirkfield has recently grown to 15,500 residents, marking a significant growth rate of 3.3%. This demographic change is likely contributing to the sustained demand for housing and can be expected to support continued market growth in the near term.
Investment Opportunities and Potential
Kirkfield’s real estate market presents various investment opportunities. The consistent increase in property values suggests that both residential homes and apartments are stable investments with potential for capital gains. The ongoing population growth strengthens this potential as it could lead to increased rental demand, particularly for apartments. Investors looking to enter the rental market or expand their portfolio could find Kirkfield an attractive option due to its growing demographic and rising property values.
The 4% growth in house prices may attract investors seeking long-term equity growth, while the slightly lower growth rate of apartment prices might be appealing for those looking for more accessible entry points into the real estate market.
Future Market Outlook
The future outlook for Kirkfield’s real estate market appears positive. Assuming the current trends continue, investors and homeowners can likely expect ongoing appreciation in property values. The robust population growth rate suggests that demand for housing will sustain if not increase, underpinning this upward price trajectory.
However, prospective investors and homebuyers should consider broader economic factors such as interest rates, employment rates, and regional economic development initiatives as these can influence future market conditions.
In conclusion, Kirkfield offers a balanced real estate market with solid investment potential and promising future prospects based on current data and trends.
