Cambray, 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
The real estate market in Cambray, Ontario reflects a moderate but steady growth pattern. With a median house price currently at $500,000, the market has experienced a 3.5% year-over-year increase. This suggests a healthy demand for houses in the region, likely driven by the town’s amenities and quality of life, coupled with a relatively affordable price point when compared to larger urban centers.
In contrast, the median apartment price stands at a lower threshold of $300,000, having risen by 2.1% year-over-year. This slower rate of increase indicates that while there is interest in multi-family dwellings, it does not quite match the demand for single-family homes.
The population of Cambray has grown to 15,000 residents, with a robust growth rate of 7.1%. This suggests an influx of new residents that could be contributing to the increasing demand for housing in the area.
Investment Opportunities and Potential
The current trends highlight several investment opportunities within Cambray’s real estate market. The consistent growth in house prices points towards a stable investment environment for single-family homes. Investors can expect continued appreciation at a similar or potentially greater rate as regional development proceeds.
Apartments present a more modest investment opportunity but are nonetheless attractive due to their lower entry price point and the growing population which may drive rental demand. As such, purchasing apartments for rental income could be a strategic move for investors seeking long-term yields.
The significant population growth also indicates potential for new developments and housing projects tailored to meet rising demand. Stakeholders might consider engaging in residential development projects or renovation initiatives aimed at modernizing older properties to attract new residents.
Future Market Outlook
The future outlook for Cambray’s real estate market appears promising. Given the steady population increase and sustained economic factors that support housing demand, it is reasonable to anticipate ongoing growth in property values. However, as with any market, it is important to monitor external economic conditions that could influence purchasing power and interest rates which directly impact mortgage affordability.
Diversification within Cambray’s economy and investments in infrastructure could further propel the real estate market forward by creating jobs and improving livability, thereby attracting potential buyers from other regions looking for an optimal balance between lifestyle and cost of living.
In conclusion, while current data presents an optimistic scenario for investors and homeowners alike, vigilance in tracking broader economic indicators remains essential for anyone involved or interested in the Cambray real estate market.
