Cloyne, 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 Cloyne, Ontario is currently exhibiting steady growth. The median house price in the area is $500,000, with a year-over-year increase of 3.5%. This increment indicates a healthy demand for houses in the region, reflective of both local economic stability and an attractive market for potential homeowners. Similarly, the median apartment price stands at $300,000, with a slightly lower annual appreciation rate of 2.1%, suggesting a more moderate but still positive trend in the multi-family housing sector.
The population of Cloyne has shown significant growth, with an increase of 7.1%, bringing the total to approximately 15,000 residents. This demographic uptick is a contributing factor to the sustained demand for housing and can be seen as a positive indicator for both the rental and buyer markets.
Investment Opportunities and Potential
Given the steady rise in property values and consistent population growth, Cloyne presents attractive investment opportunities. For investors focusing on long-term equity growth, purchasing residential properties could capitalize on the upward trend in house prices. The 3.5% increase in median house prices suggests that investments in single-family homes are likely to benefit from continued appreciation.
The apartment sector also shows promise due to its 2.1% price trend increase. Investors may find opportunities in acquiring multi-unit residential buildings or developing new apartment complexes to meet the growing housing demand fueled by population expansion.
Rental properties may offer additional potential given the population growth, as new residents may initially seek rental accommodations before purchasing homes. Therefore, establishing a portfolio of rental properties could be advantageous for investors looking to secure ongoing income streams.
Future Market Outlook
The future real estate market outlook for Cloyne appears optimistic. With a solid foundation of population growth and consistent property value appreciation, there is an expectation for continued stable expansion of the market. As long as economic conditions remain favorable and infrastructure development keeps pace with residential needs, Cloyne’s real estate market is poised for sustainable growth.
Investors and homebuyers should monitor potential shifts in interest rates or local economic policies that might impact affordability and investment attractiveness. However, if current trends persist, both owner-occupiers and investors can look forward to a dynamic and profitable real estate environment in Cloyne.
