Greely, 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 Greely, Ontario, the real estate market is currently experiencing steady growth. The median house price in the area is at $500,000, with a year-over-year increase of 3.5%. This indicates a stable upward trend in housing prices, reflecting healthy demand in the local market. Similarly, apartment prices have also seen growth, albeit at a slightly slower pace, with the median price at $300,000 and an annual increase of 2.1%. The consistent growth in property values suggests a robust real estate market that has been maintaining its upward trajectory.
Investment Opportunities and Potential
The investment landscape in Greely presents promising opportunities for both residential and rental markets. Given the population growth of 7.1%, there is a burgeoning demand for housing which could drive further increases in property values and rental rates. The current trends indicate that investing in detached homes could yield stronger appreciation over time due to their higher year-over-year price increase compared to apartments. However, the more modest price point of apartments combined with solid growth makes them an attractive option for investors looking for lower entry costs and potentially high rental demand.
Future Market Outlook
The future outlook for Greely’s real estate market remains optimistic. With a significant population increase and ongoing development within the region, it is expected that the demand for both housing and rental properties will continue to rise. The current growth patterns suggest that property values are likely to maintain their upward momentum, albeit potentially at a variable rate as the market adjusts to economic factors and local developments. Investors should monitor infrastructure projects and zoning changes that could impact future property values. Overall, the market data points towards a sustained positive trend in Greely’s real estate sector.
