Lakefield, 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
The real estate market in Lakefield, Ontario is currently experiencing steady growth. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This indicates a healthy demand for detached homes in the area, likely driven by both local factors and broader provincial trends. Meanwhile, the apartment sector shows a more moderate price trend with a 2.1% increase year-over-year, bringing the median apartment price to $300,000. The different growth rates between these two property types suggest that houses are currently more sought-after in this market.
Investment Opportunities and Potential
Investors looking into the Lakefield real estate market will find opportunities both in the residential housing and apartment sectors. With consistent growth in house prices outpacing apartments, purchasing single-family homes could offer higher capital appreciation potential in the short to medium term. On the other hand, apartments might appeal to investors seeking more affordable entry points into the market or those looking to cater to segments of the population less inclined or able to purchase houses.
Lakefield’s significant population growth of 7.1% is an important factor for investors to consider as it may lead to increased demand for housing. This demographic expansion can be a driver for rental markets as well as stimulate further development and infrastructure investments in the region.
Future Market Outlook
The future outlook of Lakefield’s real estate market appears optimistic given its recent performance and demographic trends. The sustained population growth suggests that demand for both houses and apartments will continue to rise. Assuming no major economic disruptions occur and interest rates remain conducive to borrowing, Lakefield’s real estate market should maintain its upward trajectory.
However, potential investors and current homeowners should monitor local economic developments, changes in interest rates, and any new government housing policies that could affect market dynamics. As always, thorough due diligence and consultation with real estate professionals are recommended when considering investment decisions.