Cheney, 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 Cheney, Ontario is exhibiting steady growth. With a median house price currently at $500,000, the market has seen an appreciable year-over-year increase of 3.5%. This indicates a healthy demand for housing in the area. Meanwhile, the apartment sector is also experiencing growth with a median price of $300,000, trending upwards at a rate of 2.1% year-over-year. This suggests a consistent demand for more affordable, smaller-scale housing options.
The population of Cheney stands at approximately 15,000 residents, with an impressive growth rate of 7.1%. This substantial population increase is likely contributing to the robust housing demand and could be indicative of a strong local economy or an influx of new residents attracted by employment opportunities or lifestyle factors.
Investment Opportunities and Potential
The ongoing positive trends in Cheney’s real estate market suggest that there are significant investment opportunities present. The steady increase in property values can be attractive for long-term investors looking to capitalize on capital appreciation. For those interested in rental properties, the growing population signifies potential for stable rental income streams.
New development projects could be especially promising given the population growth, catering to both new residents and those seeking to upgrade their living situation as the local economy expands. Additionally, the disparity between house and apartment prices indicates a diverse market that can accommodate various investment strategies and budgets.
Future Market Outlook
Looking ahead, the future market outlook for Cheney, Ontario remains optimistic. The continued population growth coupled with sustained property value increases suggests that demand for housing will remain strong. Should local economic conditions maintain their current trajectory or improve further, it is likely that the real estate market will see ongoing expansion.
However, investors should monitor potential headwinds such as interest rate changes or broader economic shifts which could impact affordability and borrowing costs. It is also advisable to consider any developments in local policies or regulations that might affect the real estate landscape.
In summary, Cheney’s real estate market holds promise for both residential homebuyers and investors, supported by solid fundamentals such as population growth and upward trending property values.
