Cargill, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $480,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.6% |
Apartment
| Median price | $290,000 |
| Monthly growth | 0.5% |
| Quarterly trend | 1.7% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $390,000 |
| 3 bedrooms | $480,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.0 |
Market Analysis
Current Market Conditions and Trends
In Cargill, Ontario, the real estate market is currently experiencing stable growth. The median house price in the region stands at $480,000, reflecting a year-over-year increase of 2.8%. This modest uptick indicates a healthy market that is growing at a sustainable rate without the overheating that can lead to abrupt corrections.
Similarly, the apartment sector has shown resilience with a median price of $290,000 and a year-over-year growth rate of 1.7%. This slower growth rate compared to houses suggests that apartments are a more accessible entry point for buyers in this market or an alternative for those looking for more affordable housing options.
The population of Cargill has reached 15,500 and continues to grow at a rate of 3.3% per annum. This influx suggests a robust local economy attracting new residents and underpins the demand for housing in the area.
Investment Opportunities and Potential
The steady increase in property values coupled with ongoing population growth presents several investment opportunities in Cargill’s real estate market. For investors seeking long-term capital appreciation, single-family homes are proving to be solid assets with their higher growth rate. The consistent rise in median house prices indicates potential for continued appreciation moving forward.
Apartments offer an attractive proposition for both rental investors and first-time homebuyers due to their relatively lower price point and stable appreciation. Considering the population growth, there is likely to be sustained demand for rental properties, potentially leading to favorable rental yields for investors.
Moreover, Cargill’s economic stability may also encourage further development projects, including commercial real estate and mixed-use developments, adding diversity to investment options within the region.
Future Market Outlook
The future outlook for Cargill’s real estate market appears positive. The consistent population growth will likely continue to fuel housing demand. Assuming economic conditions remain stable or improve, both residential categories should see ongoing appreciation at rates similar to current trends or slightly higher as the local market dynamics evolve.
Infrastructure development and community investments may also play a role in shaping the future landscape of Cargill’s real estate market. As such developments come into fruition, they could increase property values further and enhance the appeal of the region for new residents and businesses alike.
While these forecasts are optimistic based on current data, it is essential for investors and stakeholders to remain vigilant about regional and national economic shifts that could impact local market conditions.
