Godfrey, 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 in Godfrey, Ontario
In Godfrey, Ontario, the real estate market is currently experiencing a steady increase in property values. The median house price stands at $500,000, with an annual growth trend of 3.5%. This indicates a healthy demand for houses within the area. Apartments are also seeing a positive trend, with the median apartment price at $300,000 and a year-over-year growth of 2.1%. These figures suggest that while the market for apartments is growing, houses are in higher demand and experiencing more significant appreciation.
The population of Godfrey has reached 15,000 residents, with an impressive growth rate of 7.1%. This demographic expansion is a key factor driving demand for housing in the town. With more people moving to the area, the need for both ownership and rental properties is likely to continue rising.
Investment Opportunities and Potential in Godfrey
Given the steady market growth and significant population increase, Godfrey presents attractive investment opportunities. Investors considering entering this market can expect potential for capital appreciation, particularly in single-family homes which demonstrate higher price growth. Rental properties also offer viable investment prospects due to the increasing population seeking housing.
The consistent rise in property values suggests that early investments could yield substantial returns as demand continues to push prices upward. Moreover, with apartments experiencing a slower yet steady increase in value, there may be opportunities for investors to cater to different segments of the market including first-time homebuyers or downsizers looking for smaller, more affordable properties.
Future Market Outlook for Godfrey Real Estate
The future outlook for Godfrey’s real estate market appears promising. The combination of solid population growth and a stable increase in property values provides a strong foundation for sustained market health. Assuming current trends continue, we can anticipate further appreciation in property prices over the coming years.
However, potential investors should remain cognizant of broader economic factors that could influence local markets such as interest rates, employment rates and regional economic development which may affect consumer confidence and purchasing power.
Overall, given the current data and trends, Godfrey’s real estate market holds considerable potential for both short-term gains through property flipping and long-term investments focused on rental income or capital appreciation.
