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
In Churchill, Ontario, the real estate market is currently experiencing steady growth. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This indicates a healthy demand for housing in the area, underpinned by a robust local economy and an attractive living environment. Similarly, apartments are witnessing a positive trend with the median price at $300,000 and a growth rate of 2.1% over the past year.
The town’s population has shown significant growth at 7.1%, which is substantially higher than the national average. This surge is likely contributing to the increased demand for housing, as more individuals and families settle in the region.
Investment Opportunities and Potential
Growing market conditions in Churchill present various opportunities for real estate investors. The consistent rise in property values suggests that investments made today have a strong potential for capital appreciation in the medium to long term. With single-family homes appreciating at a faster rate than apartments, investors might favor purchasing houses to maximize their return on investment.
The population growth also signals potential for rental properties to meet the needs of newcomers who may be looking for temporary or long-term accommodations. Investors could consider acquiring apartment units or developing multi-family dwellings to cater to this segment of the market.
Future Market Outlook
The future outlook of Churchill’s real estate market appears promising. Given the current trends and population growth trajectory, it is likely that demand for housing will continue to rise. This should sustain or possibly even accelerate the growth in property values over time. However, prospective investors and homeowners should stay informed about local economic developments and any changes in government housing policies that could impact the market dynamics.
Furthermore, as infrastructure developments keep pace with population growth, areas within Churchill that are currently less developed may emerge as new hotspots for real estate investment. Keeping an eye on urban planning initiatives can provide insights into future high-growth areas within the town.
