Carnarvon, Ontario Real Estate Market Data
Updated: Nov 2024
House
Median price | $525,000 |
Monthly growth | 1.4% |
Quarterly trend | 4.0% |
Stock on market | 0.6% |
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 | $425,000 |
3 bedrooms | $525,000 |
4 bedrooms | $625,000 |
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 | 5,700 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Carnarvon, Ontario, is currently experiencing a moderate growth pattern. The median house price stands at $525,000, which reflects a year-over-year increase of 4%. This steady ascent in home values indicates a healthy demand for residential properties. In the apartment sector, the median price is somewhat lower, positioned at $320,000, witnessing a slightly less aggressive year-over-year uptick of 2.5%. Such data points to a balanced expansion across different types of housing within the market.
Investment Opportunities and Potential
Considering the stable growth in property values, Carnarvon presents attractive investment opportunities. The continuous rise in the median house price suggests that single-family homes could provide robust long-term equity gains for investors. Apartments, with their lower entry price point and consistent appreciation rate of 2.5%, offer an accessible option for first-time investors or those looking to diversify their portfolio with rental properties. The population growth rate of 3.3% further bolsters the potential for rental demand, as newcomers to Carnarvon will likely increase the need for both rental and owner-occupied dwellings.
Future Market Outlook
The future of Carnarvon’s real estate market appears promising. A combination of steady population growth and consistent property value increases positions this market as a potentially lucrative one for both homeowners and investors. If current trends continue, we can anticipate ongoing appreciation in property values and sustained demand. Nevertheless, potential investors should remain vigilant of broader economic conditions and local developments that could impact future market dynamics.