Fenwick, 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 | $320,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
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 (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,100 |
| 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 Fenwick, Ontario, is currently experiencing a period of steady growth. The median house price sits at $525,000, reflecting a year-over-year increase of 4%. This indicates a healthy demand for detached homes in the area. Similarly, apartments are also seeing an upward trend with the median price at $320,000, which has risen by 2.5% over the past year.
These trends are occurring against a backdrop of population growth. Fenwick’s population has grown by 3.3%, suggesting that the area is attracting new residents. This influx may be due to several factors including employment opportunities, quality of life, and the relative affordability of housing compared to major urban centers.
Investment Opportunities and Potential
Fenwick presents several promising investment opportunities, particularly for those looking to purchase residential properties. The consistent rise in housing prices indicates a stable market with the potential for capital gains over time. Investors might consider single-family homes due to their higher appreciation rate compared to apartments.
The growing population also suggests that rental properties could be a lucrative investment. With more people moving to Fenwick, there is likely an increasing demand for rental accommodation which could lead to favorable rental yields for investors.
Future Market Outlook
The future market outlook for Fenwick appears positive. The steady growth in housing prices coupled with ongoing population increases points towards continued demand for housing in both the buying and rental markets.
Assuming no significant economic disruptions occur, such as major employment shifts or interest rate spikes, Fenwick’s real estate market should maintain its current trajectory. Investors and homebuyers can feel reasonably confident in the stability and potential for modest growth in property values in the coming years.
In conclusion, Fenwick offers both homebuyers and investors robust opportunities underlined by steady price increases and demographic trends that support a healthy real estate environment.
