Lasalle, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $510,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.1% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $510,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
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 Lasalle, Ontario is currently experiencing moderate growth with the median house price standing at $510,000, marking a year-over-year increase of 4.1%. This indicates a healthy upward trend in property values, reflecting sustained demand within the local housing market. Conversely, the median apartment price has been pegged at $315,000, with a more modest appreciation of 2.5% year-over-year. Such figures suggest that while the market for houses is robust and growing slightly faster, apartments are also gaining value steadily, albeit at a slower pace.
The population of Lasalle has reached approximately 15,500 residents, with an above-average population growth rate of 3.3%. This demographic expansion underpins the demand for housing and contributes to the positive trajectory of real estate prices in the region.
Investment Opportunities and Potential
Given the steady rise in property values and robust population growth, Lasalle presents appealing investment opportunities for both residential properties and rental units. The consistent increase in median house prices suggests room for capital gains for investors looking to purchase single-family homes or larger residential properties. Similarly, investment in apartments could yield favorable returns due to their slightly lower price point and corresponding potential for rental income in an expanding market.
The ongoing population growth is likely to fuel demand for diverse types of housing. Investors may also explore developing multi-family units or apartment complexes to cater to the increasing number of residents who may prefer affordable housing options.
Future Market Outlook
The future outlook for Lasalle’s real estate market appears optimistic. The prevailing trends point towards continued growth in property values driven by persistent demand. Should the current population growth rate maintain its momentum, it can be expected that housing demand will remain robust, potentially leading to further appreciation in property prices.
However, investors should also consider broader economic factors such as interest rates, employment rates, and regional economic development when assessing long-term prospects. A vigilant approach that accounts for both local trends and wider economic indicators will be essential for making informed investment decisions in Lasalle’s dynamic real estate market.
