Charnwood, 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 Charnwood, Ontario is currently characterized by moderate growth. The median house price in the area stands at $500,000, reflecting a year-over-year increase of 3.5%. This indicates a steady upward trend in property values, suggesting sustained demand and a healthy housing market.
Similarly, apartments are experiencing growth with the median apartment price at $300,000, which has risen by 2.1% from the previous year. The less pronounced increase in apartment prices compared to houses may reflect a slightly lower demand for this type of property or a larger supply in the market.
The population of Charnwood is currently at 15,000 residents, with a significant population growth rate of 7.1%. This rapid population increase is likely contributing to the demand for housing and can be viewed as a positive indicator for the real estate market’s vitality.
Investment Opportunities and Potential
In light of the steady growth in property values and the significant population increase, Charnwood presents itself as an attractive location for real estate investment. The continuous appreciation in house and apartment prices suggests that investments made in the local real estate market have the potential for respectable returns over time.
The robust population growth not only underpins current demand but also points to future needs for housing, which could include development opportunities for new residential projects or investments in rental properties to cater to those moving into the area.
Additionally, with houses appreciating at a faster rate than apartments, investors might prioritize single-family homes or townhouses to capitalize on the higher growth trend. However, apartments could also be appealing due to their typically lower entry price point and potential for rental income.
Future Market Outlook
The future outlook for Charnwood’s real estate market appears optimistic. Assuming that current trends continue, we can anticipate further increases in property values. The persistent population growth will likely remain a key driver for housing demand, potentially leading to more robust appreciation rates if supply does not keep pace with demand.
Furthermore, local economic factors such as employment rates, income levels, and infrastructure development will also play crucial roles in shaping the future landscape of Charnwood’s real estate market. Investors and potential homeowners should monitor these indicators closely as they assess their long-term real estate strategies for this region.
In conclusion, while past performance is not always indicative of future results, Charnwood possesses several promising attributes that suggest its real estate market has a strong foundation for continued growth and investment potential.
