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 is experiencing stable growth as indicated by the recent statistics. The median house price in the area is currently $500,000, which reflects a healthy 3.5% year-over-year increase. This suggests that the housing market is steadily appreciating, making it an attractive location for homeowners looking for long-term value.
Similarly, the median apartment price stands at $300,000, with a slower yet consistent growth trend of 2.1% year-over-year. This indicates a slightly more accessible market for first-time buyers or investors interested in smaller properties.
The population of Cheapside has reached approximately 15,000 residents, and it has been growing at a rate of 7.1%. Such growth can be attributed to factors like employment opportunities, quality of life, and the overall attractiveness of the area to newcomers.
Investment Opportunities and Potential
Cheapside’s real estate market presents several promising investment opportunities. Given its steady population increase and consistent appreciation in property values, investors can expect healthy demand for housing to persist. For those considering rental property investments, the rising population suggests a growing pool of potential tenants.
The positive trends in both house and apartment prices indicate resilience in the local real estate market. Investors focusing on long-term capital gains might find single-family homes particularly appealing due to their higher appreciation rate. On the other hand, apartments offer a lower entry point into the market and may be ideal for short-term rental strategies or more conservative investment approaches.
Future Market Outlook
The future outlook for Cheapside’s real estate market remains optimistic. The current trends suggest that property values will continue to rise albeit at a measured pace. This gradual growth is conducive to sustained long-term investment and provides a buffer against volatility often seen in overheated markets.
The ongoing population growth will likely fuel demand for both purchasing and renting properties, supporting a robust real estate environment. However, investors should monitor local economic factors and development plans as these could affect future market dynamics.
In conclusion, Cheapside offers stability and potential for those interested in entering its real estate market. With careful consideration of location-specific factors and vigilant monitoring of broader economic indicators, investors can capitalize on the opportunities present in this growing community.
