Benny, 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 Benny, Ontario, the current real estate market conditions show a steady growth pattern. The median house price stands at $500,000, with a positive year-over-year growth of 3.5%. This indicates a healthy demand for homes in the region, likely driven by both local factors and broader provincial economic trends.
Similarly, the apartment market is experiencing growth albeit at a slower pace than houses. The median apartment price is currently at $300,000, with an appreciation of 2.1% over the past year. This trend suggests a slightly softer but still upward-moving apartment market.
The population of Benny has shown significant growth, currently noted at 7.1%, bringing the total population to approximately 15,000 residents. This rapid population increase is an important driver of housing demand and can contribute to sustained growth in property values over time.
Investment Opportunities and Potential
The steady increase in property values coupled with robust population growth positions Benny as an attractive location for real estate investment. The consistent rise in median house prices indicates a stable investment environment for single-family homes.
Apartments present a more accessible entry point for investors due to their lower median price point. Given their slower appreciation rate, apartments in Benny may appeal to investors seeking long-term capital gains with the potential for rental income as the population continues to expand.
Developers and investors should also consider the implications of the town’s demographic trends on housing demands such as preferences for smaller units or rental properties by younger demographics or newly arriving residents.
Future Market Outlook
The future real estate market outlook for Benny remains optimistic. The ongoing population growth of 7.1% is likely to maintain its momentum given broader regional economic prospects and lifestyle factors attracting new residents. Consequently, this influx should continue to support demand for both houses and apartments.
If current trends persist, we can anticipate further moderate increases in property values. The house market shows potential for sustained appreciation due to limited supply and growing demand, while the apartment sector may see continued interest from both renters and investors alike.
Investors should monitor key indicators such as employment rates, infrastructure developments, and interest rates which could affect affordability and investment attractiveness in the area.
To conclude, Benny’s real estate market presents promising opportunities for a range of investment strategies supported by healthy market fundamentals and demographic trends. Prudent investors will keep an eye on these patterns to make informed decisions aligned with their financial goals.