Cardiff, 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 Cardiff, Ontario currently exhibits stable growth, with the median house price situated at $500,000 and following an upward trend of 3.5% year-over-year. The apartment sector is also seeing expansion albeit at a slower pace, with the median price at $300,000 and a growth trend of 2.1% year-over-year. This steady growth is reflective of Cardiff’s overall economic health and the increasing demand for housing in the area. The population has experienced a significant increase of 7.1%, which suggests a burgeoning market with a robust demand for both houses and apartments.
Investment Opportunities and Potential
The consistent rise in median prices for both houses and apartments points to strong investment potential in Cardiff’s real estate market. For investors looking to enter the housing market, the current conditions indicate a favorable environment for capital gains, especially given the healthy year-over-year price increase. Apartments offer an alternative entry point with a lower median price point but still show promising appreciation trends. Additionally, the population growth strongly implies an ongoing or even elevated demand for rental properties, which could benefit investors interested in generating passive income through property rentals.
Future Market Outlook
The future outlook for Cardiff’s real estate market appears optimistic based on current trends and demographic data. Assuming that the local economy maintains its momentum and continues to attract new residents, it is reasonable to expect sustained or possibly increased demand for housing. If the population continues to grow at or above the current rate of 7.1%, pressure on the housing supply could drive further price appreciations across the board. Consequently, both short-term investors and long-term homeowners could potentially benefit from favorable market conditions in the coming years.
