Churchill, 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 Churchill, Ontario is currently experiencing a period of steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing healthy appreciation which is slightly above the national average. Similarly, apartments in Churchill are also seeing an upward trend with a median price of $300,000 and a 2.1% rise over the past year.
The population growth of 7.1% is indicative of a growing demand for housing in the region. This surge is likely contributing to the steady increase in property values as more people move to Churchill for its employment opportunities and quality of life.
Investment Opportunities and Potential
Investors looking to enter the Churchill real estate market may find significant opportunities, especially in residential properties. The consistent rise in house prices suggests that purchasing residential real estate could yield solid returns through both rental income and capital gains. The growing population further supports the potential for rental properties as there may be an increasing number of residents seeking homes to rent.
The lower median price point for apartments compared to houses presents an attractive entry-level investment option with a modest but stable appreciation trend. Investors could potentially benefit from targeting this segment of the market to cater to individuals or small families who prefer more affordable housing options.
Future Market Outlook
The future outlook for Churchill’s real estate market appears optimistic. Considering the current growth trends and positive population influx, it is likely that demand for housing will continue to support property value appreciation. The sustained growth rate in house prices indicates a stable market that may continue on this trajectory if economic conditions remain favorable.
Moreover, as the community grows, there may be further development which can introduce new housing stock and potentially attract even more residents. Investors should monitor infrastructure projects and economic developments within Churchill as these factors will play a critical role in shaping the long-term landscape of the real estate market.
