Harvey, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $550,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $550,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $480,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Harvey, Ontario is currently experiencing a steady growth with the median house price standing at $550,000, which indicates a year-over-year increase of 4.2%. This upward trend suggests a healthy demand for housing in the area. The median apartment price is slightly more modest at $320,000, with a slower yet positive year-over-year growth of 2.5%. The population growth of 3.3% is likely contributing to the sustained demand for housing, as more people are drawn to Harvey, likely due to its economic opportunities or lifestyle offerings.
Investment Opportunities and Potential
Investors considering the Harvey real estate market can expect potential due to its consistent growth trends. The single-family home segment, with its 4.2% increase in median prices, could be particularly attractive for long-term investments. Rental properties may also benefit from the rising population, indicating a potential for steady rental income and property value appreciation. Apartment units, given their lower entry price point compared to houses and moderate appreciation rate of 2.5%, offer an accessible investment opportunity that could appeal to first-time investors or those looking for lower-risk investments.
Future Market Outlook
The future outlook for Harvey’s real estate market remains optimistic based on current trends and demographic factors. The consistent population growth of 3.3% implies an ongoing demand for housing which may continue to push property values upward. If these trends maintain their course, investors could see continued appreciation in both the house and apartment markets. However, it is important to monitor economic indicators such as employment rates, interest rates, and regional development plans, as they can significantly influence market conditions and investment outcomes.
