Honeywood, 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 Honeywood, Ontario, the real estate market is currently exhibiting steady growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This suggests a healthy demand for single-family homes in the area. Similarly, the market for apartments also shows positive momentum, as the median apartment price has reached $300,000, growing at a slightly lower yet consistent rate of 2.1% year-over-year.
The population of Honeywood has seen significant growth, currently at 15,000 residents with a substantial increase of 7.1%. This demographic expansion can be attributed to Honeywood’s appealing living conditions and potential for economic opportunities, which in turn fuels the real estate demand.
Investment Opportunities and Potential
The ongoing population growth coupled with rising property values indicates favorable conditions for real estate investment in Honeywood. Single-family homes are particularly promising due to their higher appreciation rate. Investors may find opportunities in purchasing residential properties to rent out or hold for long-term capital gains.
Apartments offer a more accessible entry point for investors given their lower median price compared to houses, and they cater to a growing segment of the population looking for affordable housing options. A steady increase in apartment prices also suggests that this sector of the market is ripe for investment with the potential for consistent returns.
Future Market Outlook
The future real estate market outlook for Honeywood is optimistic based on current trends and data. If the population continues to grow at its current pace or faster, demand for housing is likely to keep driving up property values. However, it’s crucial for potential investors and homebuyers to monitor local economic developments and infrastructure investments that could impact the market dynamics.
The consistent increase in median prices for both houses and apartments underlines a stable growth trajectory. Assuming no major economic shifts occur, Honeywood’s real estate market should remain an attractive destination for both homebuyers and investors seeking long-term value appreciation.