Hornepayne, 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 Hornepayne, Ontario, the real estate market is currently experiencing a steady growth. The median house price in the area stands at $500,000, with a year-over-year increase of 3.5%. This indicates a healthy appreciation in property values that may reflect an increased demand for housing in the region. Apartments are also witnessing growth, albeit at a slightly slower pace, with the median price set at $300,000 and an annual trend of 2.1% increase. This difference in growth rates suggests that houses may be more sought after than apartments in the current market.
Investment Opportunities and Potential
The positive trends in Hornepayne’s real estate market offer appealing opportunities for investors. Given the solid population growth of 7.1%, which suggests an expanding local economy and potentially rising demand for housing, investment in residential properties could be considered strategic. The stronger growth rate for detached houses implies that these might present particularly attractive investment opportunities compared to apartments. However, potential investors should also consider the lower price point of apartments which could cater to different segments of the market such as young professionals or smaller families.
Future Market Outlook
The future outlook for Hornepayne’s real estate market appears optimistic based on the current trends and demographic data. With a significant population increase, there is likely to be continued demand for housing, which could support further property value appreciation and robust rental markets. Barring any unforeseen economic shifts or policy changes that might affect the real estate sector negatively, both housing and apartment markets are expected to maintain their upward trajectory. Investors would do well to monitor key economic indicators closely while considering long-term investments in this growing community.
