Cavanmonaghan, Ontario Real Estate Market Data
Updated: Nov 2024
House
Median price | $525,000 |
Monthly growth | 1.3% |
Quarterly trend | 4.2% |
Stock on market | 0.7% |
Apartment
Median price | $315,000 |
Monthly growth | 1.0% |
Quarterly trend | 2.5% |
Stock on market | 1.1% |
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 | $470,000 |
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 Cavanmonaghan, Ontario is currently experiencing a steady growth pattern. The median house price stands at $525,000, which represents a year-over-year increase of 4.2%. This increase signals a healthy demand for residential properties in the area, possibly driven by the town’s attractive amenities and its proximity to larger urban centres.
In comparison, the median apartment price is currently at $315,000, showing a more modest year-over-year growth of 2.5%. The lower growth rate in apartment prices may indicate a market with ample supply or potentially less demand for this type of property when compared to houses.
The population of Cavanmonaghan has reached approximately 15,500 residents, showcasing a significant growth rate of 3.3%. This population increase is likely contributing to the sustained demand for housing in the region.
Investment Opportunities and Potential
The robust population growth combined with a steady increase in property values suggests that Cavanmonaghan offers promising investment opportunities. Investors looking to purchase residential properties can expect continued appreciation based on current trends. Single-family homes, in particular, appear to be a desirable asset in this market given their higher appreciation rate compared to apartments.
Investors should also consider the long-term rental market potential due to the ongoing population influx. With more people moving to the area for its lifestyle and employment opportunities, rental properties may offer stable income streams and low vacancy rates.
Future Market Outlook
Moving forward, Cavanmonaghan’s real estate market appears poised for continued growth. The consistent rise in property values coupled with an expanding population base lays the groundwork for a strong market outlook. If current trends persist, investors and homeowners can anticipate further increases in property values.
However, it is essential for prospective buyers and investors to monitor local economic indicators and infrastructure developments closely, as these factors will play critical roles in shaping the future of the real estate market in Cavanmonaghan.
Careful consideration should also be given to external forces such as interest rates, government housing policies, and broader economic conditions that can impact real estate markets across Canada.