Godfrey, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $550,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $475,000 |
| 3 bedrooms | $550,000 |
| 4 bedrooms | $675,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $275,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| 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 Godfrey, Ontario, is currently experiencing steady growth. With a median house price of $550,000, the market has seen a respectable year-over-year increase of 4%. This indicates a healthy demand for single-family homes that continues to push prices upward at a moderate pace. The apartment sector is also showing positive movement with a median price of $320,000 and a growth trend of 2.5% year-over-year. This slower rate of growth compared to houses suggests that while there is interest in apartment living, the demand is less aggressive.
The population of Godfrey has reached 15,500 residents, displaying a robust growth rate of 3.3%. This demographic expansion can contribute to increased housing demand, which may continue to drive real estate prices up if the supply does not keep up with the growing population.
Investment Opportunities and Potential
The real estate market in Godfrey offers attractive investment opportunities, particularly in the single-family home segment where growth has been consistent. Investors can capitalize on the 4% increase in house prices by investing in properties that are likely to appreciate in value over time. The apartment sector’s slower growth presents an opportunity for long-term rental income strategies as more individuals may seek affordable housing options within this growing community.
In addition to traditional residential investments, Godfrey’s increasing population suggests potential for development projects aimed at accommodating new residents. This could include new housing developments or multifamily units that cater to different segments of the market.
Future Market Outlook
Looking ahead, Godfrey’s real estate market appears poised for continued growth. Population trends indicate an increasing need for housing which should sustain demand across both the house and apartment markets. The consistent rise in median house price suggests confidence in Godfrey’s property market and its potential for further appreciation.
Assuming the current trend persists, investors can remain optimistic about property value gains over the coming years. However, it will be important to monitor any economic changes or shifts in local policies that could impact growth rates. It will also be critical to consider infrastructure developments that could enhance or detract from Godfrey’s appeal as a residential community.
To sum up, with stable year-over-year price increases and a burgeoning population, Godfrey stands out as an appealing market for both residential living and real estate investment.
