Cheapside, 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 (2025) | 15,000 |
| Previous Population (2020) | 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 Cheapside, Ontario currently presents a stable environment with modest growth. The median house price is set at $500,000, reflecting a steady year-over-year increase of 3.5%. Similarly, the median apartment price stands at $300,000, with a slightly lower growth trend of 2.1% year-over-year. These statistics indicate a balanced market with continued demand for both houses and apartments. The population of Cheapside has recently reached 15,000 residents, with a significant population growth rate of 7.1%, suggesting an expanding community that could further drive housing demand.
Investment Opportunities and Potential
The investment landscape in Cheapside is promising due to the consistent growth in property values and an expanding population base. Housing prices are appreciating at a healthy pace without showing signs of overheating, which bodes well for long-term capital gains. For investors looking for rental opportunities, the population increase signifies potential for strong rental demand, particularly for apartments given their lower entry price point and higher percentage growth compared to houses.
Future Market Outlook
Looking ahead, the future market outlook for Cheapside’s real estate appears positive. The sustained population growth of 7.1% is expected to continue to bolster housing demand. With the current trends suggesting gradual appreciation in property values, both the house and apartment markets should remain attractive to buyers and investors alike. Nevertheless, it is important for stakeholders to monitor economic factors that could influence interest rates and affordability, which in turn may impact market dynamics.
