Inverhuron, 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
Inverhuron, Ontario is currently experiencing a steady real estate market with the median house price sitting at $500,000, which reflects a growth of 3.5% year-over-year. This suggests that the housing market is seeing moderate appreciation in value, which is a positive sign for homeowners and investors alike. The median apartment price has also increased to $300,000 with a slightly lower growth rate of 2.1% year-over-year. This differential in growth rates may indicate a higher demand or preference for single-family homes over apartments in this community.
The population of Inverhuron has seen a significant increase of 7.1%, which can be indicative of an expanding local economy and a potential influx of new residents seeking housing. This demographic shift could further stimulate the housing market, potentially leading to an upward pressure on housing prices if the supply does not keep pace with demand.
Investment Opportunities and Potential
For investors considering Inverhuron’s real estate market, there are promising opportunities given the population growth and stable price appreciation. Investment in single-family homes may present more significant potential for capital gains based on the current trends showing stronger growth in house prices compared to apartments.
The steady year-over-year price increase across both houses and apartments suggests a market that offers potential for long-term investment returns. As the local economy grows and attracts more residents, rental properties could become increasingly in demand, thereby creating opportunities for investors to generate passive income through rental yields.
Future Market Outlook
Looking ahead, Inverhuron’s real estate market appears poised for continued growth. The strong population increase suggests that there will be ongoing demand for housing, which may lead to sustained or even increased rates of property value appreciation over time. However, it is crucial to monitor local economic conditions and housing supply developments as they will be key factors influencing future market dynamics.
If the current trends persist and new housing developments are introduced in a manner that matches population growth without oversaturating the market, Inverhuron could maintain its trajectory as an attractive location for both living and investing. Investors should pay close attention to zoning changes, infrastructure developments, and other economic indicators that might impact the real estate landscape in Inverhuron.
