Goodwood, 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 Goodwood, Ontario is experiencing steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing consistent appreciation in property values. Similarly, the apartment market has seen a slower yet positive trend, with the median price at $300,000 and a 2.1% rise over the past year.
The population of Goodwood has grown to 15,000 residents, reflecting a significant growth rate of 7.1%. This demographic expansion suggests an increasing demand for housing in the area. The current trends indicate a stable market with potential for continued growth, driven by the influx of new residents seeking housing solutions.
Investment Opportunities and Potential
The solid growth in property values presents lucrative opportunities for real estate investors in Goodwood. The consistent increase in house prices signals a strong and resilient market that can offer good returns on investment over time. Moreover, with the population expanding rapidly, there is potential for new development projects to meet the rising demand for housing.
Apartments are becoming an increasingly attractive investment option as well, with their more modest price point and steady appreciation rate. These factors make them ideal for rental investments or first-time homebuyers looking to enter the market.
Given the current growth trajectory, investors may also consider exploring commercial real estate ventures or land acquisitions in anticipation of future developments that cater to the growing community needs.
Future Market Outlook
Looking ahead, the future real estate market outlook for Goodwood remains promising. The robust population growth suggests that demand for both residential and commercial properties will continue to rise. If current trends persist, property values are likely to maintain an upward trajectory albeit at a sustainable pace which is beneficial for long-term stability.
Infrastructure improvements and community development projects could further bolster property values and attract more residents to Goodwood. Investors should keep an eye on municipal plans and zoning changes as these could present further opportunities or affect market dynamics.
In conclusion, Goodwood’s real estate market demonstrates potential for continued growth and represents an appealing opportunity for both residential and commercial property investors. It is advisable for interested parties to conduct thorough due diligence and stay informed about local developments to make strategic investment decisions.
