Inverary, 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
The real estate market in Inverary, Ontario, is experiencing steady growth as indicated by the current statistics. The median house price in the area stands at $500,000 with a year-over-year increase of 3.5%. This trend suggests a healthy demand for single-family homes and a stable real estate environment. Similarly, the median apartment price is $300,000, reflecting a slower yet consistent rise of 2.1% over the past year. This increment points to a sustained interest in more affordable housing options and a diversified property market.
With a population of 15,000 that has grown by 7.1%, Inverary is witnessing an influx of new residents. This demographic expansion can lead to increased demand for housing and can act as a catalyst for further development in the real estate sector.
Investment Opportunities and Potential
The growing population coupled with appreciating property values indicates promising investment opportunities in Inverary. The consistent rise in house prices suggests that investments in residential properties could yield profitable returns over time. Moreover, the somewhat lower appreciation rate for apartments can be attractive to investors who are looking for more accessible entry points into the real estate market or who wish to cater to segments preferring smaller living spaces.
Investors might also consider exploring development projects aimed at accommodating the increasing population. Opportunities may exist in both residential construction and renovation sectors, especially for properties that would appeal to both first-time homebuyers and individuals seeking affordable housing.
Future Market Outlook
The future outlook of Inverary’s real estate market appears optimistic based on current trends. The steady rise in property values is likely to continue if the population growth maintains its current trajectory. An ongoing demand for homes should sustain property appreciation rates, potentially leading to robust long-term investments.
However, it is important for investors and stakeholders to monitor external economic factors that could affect interest rates or employment levels, as these could have downstream effects on the real estate market’s dynamics.
In summary, Inverary presents itself as an attractive market for both residential property buyers and real estate investors, with positive indicators pointing towards continued growth and investment potential.