Benny, Ontario Real Estate Market Data
Updated: Nov 2024
House
Median price | $525,000 |
Monthly growth | 1.5% |
Quarterly trend | 4.0% |
Stock on market | 0.6% |
Apartment
Median price | $320,000 |
Monthly growth | 1.0% |
Quarterly trend | 2.5% |
Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $450,000 |
3 bedrooms | $525,000 |
4 bedrooms | $650,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $260,000 |
2 bedrooms | $360,000 |
3 bedrooms | $480,000 |
Demographics
Current Population (2025) | 15,500 |
Previous Population (2020) | 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 Benny, Ontario currently exhibits steady growth with the median house price standing at $525,000, reflecting a year-over-year increase of 4%. This indicates a healthy demand for housing in the area, likely driven by favorable local economic conditions and a desirable living environment. The apartment market is also experiencing growth, albeit at a slower pace, with the median apartment price at $320,000 and an annual increase of 2.5%. This differential growth rate may suggest a stronger preference or demand for single-family homes over apartments.
The population of Benny has reached approximately 15,500 residents, growing at an impressive rate of 3.3%. This population surge can be attributed to both natural growth and migration to Benny as it becomes an increasingly attractive location for those seeking residential stability in proximity to larger urban centers.
Investment Opportunities and Potential
With the ongoing positive trends in population growth and housing demand, investment opportunities in Benny’s real estate market appear promising. It would be particularly strategic for investors to focus on single-family homes due to their stronger price appreciation. The consistent rise in median house prices suggests that early investments could yield substantial returns as the market continues to grow.
Apartments offer a more modest investment opportunity with stable yet slower growth in value. However, they may represent a more accessible entry point into the real estate market for new investors or those with limited capital. Additionally, given the increase in population, there may be potential for rental investments as newcomers to the city seek temporary or long-term accommodation.
Future Market Outlook
The future outlook for Benny’s real estate market remains optimistic. Considering the robust population growth coupled with sustainable increases in property values, it is reasonable to forecast continued expansion within the market. The ongoing development of local amenities and infrastructure is likely to further enhance the attractiveness of Benny as a place to live and invest.
In conclusion, investors should monitor this market closely and consider long-term strategies that capitalize on projected trends. While current data supports a positive outlook, it is essential for investors to remain aware of external economic factors that could influence future market dynamics.