Canfield, 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 Canfield real estate market is currently experiencing stable growth, as indicated by the median house price of $500,000, which reflects a year-over-year increase of 3.5%. This trend suggests a healthy demand for housing in the region. Similarly, the apartment sector has seen a slightly lower but steady growth rate with the median apartment price standing at $300,000 and witnessing a 2.1% year-over-year increase. The population in Canfield has reached approximately 15,000 residents, and with a significant population growth of 7.1%, the demand for residential properties is expected to continue rising.
Investment Opportunities and Potential
The consistent growth in property values coupled with robust population expansion positions Canfield as an attractive location for real estate investment. The market’s performance, particularly the sustained increase in housing prices, presents potential for capital gains over time. Investment in both housing and apartments appears promising due to the ongoing demand driven by population growth. Additionally, with house prices appreciating at a faster rate than apartments, investors may find single-family homes to be more lucrative in terms of long-term equity.
Future Market Outlook
Moving forward, the outlook for Canfield’s real estate market remains optimistic based on current trends and demographic indicators. Given the strong population growth rate of 7.1%, it is anticipated that demand for housing will persist, potentially leading to further price appreciations and opportunities for investors. If these trends continue alongside economic stability and supportive housing policies, Canfield’s real estate market could see sustained growth well into the future.
