Cambridge, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $585,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.8% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $475,000 |
| 3 bedrooms | $585,000 |
| 4 bedrooms | $700,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $270,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2024) | 15,600 |
| Previous Population (2019) | 15,000 |
| Population Change | 4.0% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Cambridge, Ontario is currently exhibiting stable growth. The median house price stands at $585,000, with a year-over-year increase of 4%. This trend indicates a healthy demand for residential properties and a robust housing market. Similarly, the median apartment price has seen a growth of 2.5% year-over-year, reaching $320,000. Such consistent appreciation in property values reflects sustained interest in Cambridge’s real estate among buyers and investors alike. With a population of 15,600 that is growing at an annual rate of 4%, the local real estate market is benefiting from increased demand fueled by demographic growth.
Investment Opportunities and Potential
Investors looking to enter the Cambridge real estate market can find promising opportunities due to its steady growth trajectory. The city’s continuous population increase suggests a persistent need for housing, which could drive rental demand and property value appreciation over time. Single-family homes, given their 4% price increase, offer potential for capital gains as well as rental income. Additionally, apartments with a lower median price point of $320,000, combined with a moderate appreciation rate of 2.5%, present an accessible entry for investors seeking to diversify their portfolio or capitalize on the city’s growing rental market.
Future Market Outlook
The outlook for Cambridge’s real estate market appears positive based on current indicators. The city’s strong population growth rate of 4% is likely to continue driving demand for both purchasing and renting properties. As long as economic conditions remain favorable and the area continues to attract residents due to its amenities, employment opportunities, and quality of life, the real estate market is expected to maintain its upward trend. However, prospective investors should remain cognizant of broader economic factors such as interest rates and employment rates that could impact buyer affordability and overall market dynamics in the future.
