Hornby, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Hornby, Ontario, the real estate market is currently showing steady growth. The median house price stands at $500,000 with a year-over-year increase of 3.5%. This reflects a stable and gradually appreciating housing market. Meanwhile, apartments in Hornby are slightly more affordable with a median price of $300,000 and have experienced a 2.1% price increase over the past year. This modest growth in apartment prices suggests a consistent demand for more affordable housing options within the region.
Given the population of 15,000 that has expanded by 7.1%, there is evidence of demographic pressure that may be contributing to the real estate demand in Hornby. This population growth is likely due to regional economic opportunities or the appeal of the town’s lifestyle offerings.
Investment Opportunities and Potential
The current trends indicate healthy investment potential in Hornby’s real estate market. The continuous, albeit moderate, price appreciation for both houses and apartments suggests that investments made today could yield positive returns in the medium to long term. Investors should note that with population growth outpacing new housing developments, there could be an undersupply issue which may further drive property values up over time.
For those considering investment properties for rental income, the increasing population implies a growing rental market. Furthermore, given that apartment prices are rising at a slower rate compared to houses, investing in apartments may provide an accessible entry point into the real estate market with potential for solid yields.
Future Market Outlook
The future outlook for Hornby’s real estate market appears optimistic. If current trends persist—the combination of steady economic growth, population influx, and responsible development—Hornby could maintain its trajectory of gradual and sustainable property value increases.
However, investors and homebuyers should stay informed about any changes in local economic conditions or housing policies that may affect market dynamics. Continued monitoring of interest rates and mortgage availability will also be key factors influencing buyer affordability and consequently the future state of the market.
Overall, Hornby represents a promising location for real estate investment with its current stability and potential for growth influenced by demographic trends and economic health.
