Cardinal, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| 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 Cardinal, Ontario, is exhibiting stable growth, with the median house price currently standing at $525,000, reflecting a year-over-year increase of 4%. This increment indicates a healthy demand in the housing sector. Similarly, the median apartment price has seen a rise to $320,000, with a slightly lower growth rate of 2.5% year-over-year. This disparity in growth rates suggests that houses are in higher demand compared to apartments, possibly due to buyer preference for more space and privacy.
The population of Cardinal has reached 15,500, with a significant growth rate of 3.3%. This demographic expansion can be attributed to Cardinal’s appealing living conditions and potentially forecasts continuing demand for residential properties. The current trends show a robust real estate market that is likely supported by economic factors such as employment opportunities and local development projects.
Investment Opportunities and Potential
Investment opportunities within Cardinal’s real estate market appear promising, particularly in the housing sector given its stronger growth performance. Investors could benefit from the steady appreciation in property values, which may result in lucrative returns over time. The consistent population growth enhances the potential for rental properties as well, catering to new residents who may prefer renting before purchasing homes.
Given the current growth trajectory of property values, investing in both houses and apartments seems favorable. However, houses present a better capital appreciation potential due to their higher rate of price increase. Investors should also consider the community’s development plans and any infrastructure improvements that could further boost property values and attract more residents.
Future Market Outlook
The future outlook for Cardinal’s real estate market remains optimistic based on the current data trends. The ongoing population growth is expected to maintain or possibly increase demand for housing. If the local economy continues to support job creation and overall stability, it’s reasonable to predict that both house and apartment prices may continue their upward trajectory.
However, investors and potential homebuyers should monitor external economic factors such as interest rates changes or broader provincial/national economic shifts that could impact affordability and borrowing costs. Keeping an eye on these factors will be crucial for accurately forecasting long-term trends within the Cardinal real estate market.
