Cannington, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,520.8 |
Market Analysis
Current Market Conditions and Trends
In Cannington, Ontario, the real estate market is currently exhibiting steady growth. The median house price stands at $495,000, which represents a healthy year-over-year increase of 4.2%. This indicates a robust market with consistent demand for residential property. Similarly, the median apartment price has reached $295,000, following a year-over-year rise of 2.5%. These figures suggest that while apartments are also appreciating in value, houses are experiencing a more rapid increase in price.
The population of Cannington has grown to approximately 15,000 residents with a noteworthy growth rate of 3.4%. This demographic expansion is likely contributing to the persistent demand for housing in the area and may continue to support real estate values moving forward.
Investment Opportunities and Potential
The current trends in Cannington’s real estate market present multiple investment opportunities. The steady appreciation of house prices could signal a favorable environment for long-term capital gains for investors targeting single-family homes. Meanwhile, the more modest growth rate for apartments might attract investors who are looking for more affordable entry points into the property market or who prefer assets with lower volatility.
As the population continues to expand, there is potential for both rental and resale markets to remain strong. Investors interested in rental properties may benefit from sustained or increasing demand due to population growth. With strategic investments and proper management, landlords can capitalize on this trend by providing housing options that align with local demands.
Future Market Outlook
The future market outlook for Cannington remains promising based on current indicators. Population growth is poised to maintain upward pressure on both the rental and purchase markets. Assuming economic conditions remain stable locally and nationally, we can expect the demand for housing to remain robust, potentially leading to further price appreciation over time.
However, investors should be mindful of broader economic factors such as interest rates, employment rates, and government policies which can influence buyer affordability and overall market health. It is recommended that investors keep an eye on these external factors when making long-term real estate decisions in Cannington.
In conclusion, Cannington’s real estate market offers attractive opportunities for investors looking at both short-term income generation through rentals and long-term capital growth through property appreciation. By staying informed about local and national economic trends, investors can make strategic choices to optimize their investment outcomes in this growing community.
