Humberlea, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $550,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $475,000 |
| 3 bedrooms | $550,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $270,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $480,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
As of the current market analysis, Humberlea, Ontario boasts a relatively stable real estate environment. The median house price in the area is currently at $550,000, showing a steady growth of 4% year-over-year. This increment indicates a healthy demand for single-family homes and reflects confidence in the local market.
In contrast, the apartment sector shows a slightly lower growth rate, with median prices around $320,000 and an appreciation trend of 2.5% year-over-year. This difference in growth rate could be attributed to a stronger preference for more spacious living options within the community or a saturated apartment market.
The population of Humberlea is approximately 15,500 residents, having grown at a rate of 3.3%. This growth suggests an inflow of residents possibly due to employment opportunities, lifestyle preferences, or other socioeconomic factors that make Humberlea an attractive place to live.
Investment Opportunities and Potential
For investors considering Humberlea’s real estate market, single-family homes represent a promising opportunity given their consistent appreciation. An annual price increase of 4% indicates the potential for solid returns on investment over time. Moreover, as the population continues to grow, demand for housing is likely to keep pace or even increase.
Investment in apartments could also be strategic, especially for targeting the rental market. With population growth outpacing national averages, there is potential for rental demand to remain strong or improve. However, investors should be mindful of the slower growth rate in apartment prices compared to houses when projecting long-term asset appreciation.
Future Market Outlook
The future outlook for Humberlea’s real estate market appears optimistic. The consistent population growth serves as a fundamental driver for housing demand both now and in the foreseeable future. If current trends persist, we can expect continued appreciation in property values across both houses and apartments.
Favorable economic conditions and further urban development could also enhance property values and attract more residents to Humberlea. Investors and homeowners alike should monitor local development plans and economic indicators closely as they can significantly influence future market dynamics.
In conclusion, while mindful vigilance on economic factors is advised, current trends point towards sustained growth making Humberlea’s real estate market an attractive proposition for potential investors and homebuyers alike.
