Keene, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.8% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| 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
In Keene, Ontario, the real estate market is currently experiencing a period of moderate growth. The median house price in the region stands at $525,000, reflecting a year-over-year increase of 4%. This indicates a stable housing market that is steadily appreciating. Similarly, the median apartment price is at $315,000, with a slightly lower growth rate of 2.5% year-over-year. The consistent growth across both housing types suggests a balanced demand for real estate in Keene.
The population of Keene has reached 15,200 residents, growing at a healthy rate of 2.7%. This influx of new residents is contributing to the demand for housing and can be seen as a positive indicator for future real estate activity in the area.
Investment Opportunities and Potential
With the steady growth in property values and population increases, Keene presents several attractive investment opportunities. The consistent appreciation in house prices suggests that investing in residential properties could yield substantial returns over the long term. Moreover, with a growing population and an increasing need for rental accommodations, investors might consider entering or expanding their presence in the apartment market.
The 4% increase in house prices and the 2.5% increase in apartment prices also indicate that there is potential for rental income growth. Investors could capitalize on this by acquiring properties to rent out to locals or those moving into the area. Given the current trends, rental demand is likely to remain strong, providing investors with potential cash flow stability and capital appreciation over time.
Future Market Outlook
The future market outlook for Keene’s real estate appears positive. Considering the current trends and market data, it’s reasonable to expect continued moderate growth in property values. The population growth rate of 2.7% should sustain demand for both purchasing and renting properties.
While no market is without risk, Keene’s real estate market shows signs of resilience and stability. As long as economic conditions remain favorable and population trends continue upwards, both investors and homeowners can be cautiously optimistic about the future value appreciation of their real estate assets in Keene.
It’s important for stakeholders to monitor local economic developments and broader national trends that could impact mortgage rates, employment levels, and general consumer confidence—all factors that influence real estate markets. By staying informed and agile, participants in Keene’s real estate market can make strategic decisions to capitalize on its potential.
