Cheney, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| 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 | $470,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 15,000 |
| Population Change | 1.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Cheney, Ontario is experiencing steady growth with the median house price currently sitting at $525,000, which represents a 4% year-over-year increase. The market for apartments is also showing positive movement, with a median price of $310,000 and a 2.5% year-over-year uptick. These trends indicate a healthy demand for housing in the area.
With a population of 15,200 that has grown by 1.33%, Cheney is witnessing an influx of new residents. This demographic change contributes to the upward pressure on property values as demand for housing continues to rise.
Investment Opportunities and Potential
The current growth in Cheney’s real estate market presents attractive investment opportunities. The consistent increase in housing prices suggests that purchasing residential properties could yield favorable returns through both capital appreciation and rental income. Considering the lower entry point for apartments at $310,000, they represent a particularly appealing option for investors looking to tap into the rental market or seeking more affordable investment opportunities.
The ongoing population growth further reinforces the potential for real estate investments in Cheney as it signals sustained demand. Investors should consider factors such as location within Cheney, property condition, and future infrastructure developments when evaluating potential investments.
Future Market Outlook
The future outlook for Cheney’s real estate market remains optimistic. The steady population growth coupled with the current upward price trends suggests that demand for housing will continue to drive the market forward. If these demographic and economic trends persist, investors and homeowners can likely expect continued appreciation in property values.
However, it is essential to monitor external factors such as interest rates, employment rates, and broader economic conditions that could impact buyer affordability and influence the future trajectory of the real estate market in Cheney.
