Kennaway, Ontario Real Estate Market Data
Updated: Nov 2024
House
Median price | $525,000 |
Monthly growth | 1.1% |
Quarterly trend | 3.8% |
Stock on market | 0.6% |
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 | $450,000 |
3 bedrooms | $525,000 |
4 bedrooms | $625,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $260,000 |
2 bedrooms | $360,000 |
3 bedrooms | $460,000 |
Demographics
Current Population (2025) | 15,500 |
Previous Population (2020) | 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
In Kennaway, Ontario, the real estate market is currently experiencing a steady growth in property values. The median house price in the area stands at $525,000, with a year-over-year increase of 3.8%. This indicates a healthy demand for detached homes. Similarly, the apartment market is showing positive momentum with a median price of $315,000 and a 2.5% rise on a yearly basis. These trends suggest a balanced market where both sellers and buyers are active.
The population of Kennaway has been growing at a rate of 3.3%, which may be contributing to the increased demand for housing in the region. This influx of new residents is likely putting upward pressure on property prices as housing supply tries to keep up with demand.
Investment Opportunities and Potential
With consistent growth in property values and an expanding population, Kennaway presents several attractive investment opportunities. Investors might consider single-family homes due to their stronger appreciation trend, as well as the sustained interest in this type of property.
Apartments also offer potential for investment returns, especially as affordable housing options become more sought after by smaller households or those looking to downsize. The increasing population could result in greater rental demand, which may provide investors with the opportunity for steady rental income alongside long-term capital appreciation.
Future Market Outlook
Looking forward, Kennaway’s real estate market outlook appears positive. If current trends and population growth continue, we can expect ongoing gradual increases in property values. However, investors should also be mindful of local economic factors and potential shifts in housing policies that could affect market dynamics.
The continued rise in the median house and apartment prices suggests that Kennaway will maintain its appeal among both homebuyers and investors. Yet, it’s important to note that external economic conditions, such as interest rate changes or broader economic shifts, could impact these local trends.
In conclusion, while current indicators point towards a stable and growing market in Kennaway, stakeholders should keep an informed eye on both micro and macroeconomic signals to make well-rounded investment decisions.