Canborough, 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 (2025) | 15,000 |
| Previous Population (2020) | 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 Canborough, Ontario is currently experiencing steady growth. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This suggests a healthy upward trend in property values for houses. Apartments are also experiencing growth but at a slightly slower rate; the median apartment price is now $300,000, up by 2.1% from the previous year.
The population of Canborough has been growing robustly at a rate of 7.1%, which is likely contributing to the demand for housing and consequently driving up prices. This growth can be attributed to factors such as Canborough’s economic opportunities, quality of life, and its appeal as a commuter town for larger urban centers nearby.
Investment Opportunities and Potential
Given the current trends, there are several promising investment opportunities in Canborough’s real estate market. The steady increase in property values suggests that purchasing residential properties could provide good returns over time. Particularly, single-family homes seem to be appreciating at a higher rate compared to apartments, which may offer more significant capital gains for investors.
Furthermore, with the population expanding rapidly, there is potential for both rental and resale markets. Investors could benefit from buying properties to rent out, taking advantage of the growing demand for housing in the area. Additionally, new development projects may arise to meet this demand, presenting opportunities for investment in construction and development ventures.
Future Market Outlook
The future market outlook for Canborough remains optimistic. If the current trends continue, property values are expected to keep rising steadily. Population growth is likely to sustain demand for housing and could lead to further development in infrastructure and amenities within the community. However, it’s important for investors to monitor economic factors that could impact interest rates and affordability which might alter the trajectory of the real estate market.
In conclusion, Canborough’s real estate market shows positive signs for both short-term gains through resale or rental income and long-term appreciation of property values. As with any investment, potential risks should be weighed against possible rewards, taking into account the specific dynamics of the local market.
