Komoka, 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 (2025) | 15,000 |
| Previous Population (2020) | 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
In Komoka, Ontario, the real estate market is currently experiencing steady growth. The median house price in the area is $500,000, which marks a 3.5% increase year-over-year. This suggests that there is consistent demand for housing and that the market is relatively healthy. Similarly, the median apartment price has seen a 2.1% rise year-over-year, reaching $300,000. The slower growth rate in apartment prices compared to houses indicates a greater demand for single-family homes in this region.
The population of Komoka has also demonstrated robust growth at 7.1%. This substantial increase in residents is likely contributing to the demand for housing and could be indicative of an influx of new workers or families seeking residence in the community.
Investment Opportunities and Potential
The positive trends in Komoka’s real estate market present several investment opportunities. Given the solid year-over-year growth rates for both houses and apartments, investors can expect continued appreciation in property values. Single-family homes, in particular, may offer greater potential due to their higher growth rate.
Additionally, with the significant population growth outpacing current housing supply, there may be opportunities for new residential developments or renovations of existing properties to meet market demands. Investors should consider both long-term capital gains from property appreciation and potential rental income as more individuals move into the area.
Future Market Outlook
The future market outlook for Komoka appears optimistic given current trends and demographic shifts. If the population continues to grow at a similar or accelerated pace, it can be anticipated that demand for housing will remain strong. This continued demand will likely support further increases in property values and sustain a robust real estate market.
However, it is crucial for investors to monitor external economic factors such as interest rates, employment rates within the region, and broader economic conditions that could impact buyer affordability and influence market dynamics.
In conclusion, Komoka’s real estate market offers promising opportunities backed by positive trends in population growth and property value appreciation. With careful consideration of market data and vigilance towards external economic influences, investors can make informed decisions when exploring real estate ventures in this community.
