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
1. Current Market Conditions and Trends
The real estate market in Cloyne, Ontario, is experiencing moderate growth, with the median house price currently standing at $500,000. This represents a year-over-year increase of 3.5%, indicating a steady upward trend in property values for the area. Meanwhile, the apartment sector has also seen positive movement, with the median apartment price reaching $300,000 and growing at a slightly slower pace of 2.1% annually.
In conjunction with these pricing trends, Cloyne’s population has shown significant growth of 7.1%. This demographic change suggests an increasing demand for housing, which may continue to drive property values upward. The balance between supply and demand will be a critical factor to watch in the upcoming period as it will significantly influence pricing and the overall health of the real estate market in Cloyne.
2. Investment Opportunities and Potential
The current trends show that investing in Cloyne’s real estate market could be promising due to the consistent growth in property values as well as population increases. For investors looking at long-term appreciation potential, single-family homes represent a strong option given their higher year-over-year price increase compared to apartments.
However, given that apartments are appreciating at a slightly slower rate but remain in demand due to population growth, they present an opportunity for those interested in rental properties or more affordable entry points into the real estate market. As more individuals move into the area, it is likely that both rental and ownership markets will benefit from heightened demand.
3. Future Market Outlook
The future outlook for Cloyne’s real estate market appears optimistic based on current data trends. The sustained population growth combined with moderate yet steady increases in property prices suggests that there is ongoing interest and confidence in the local market.
If these trends continue, we can expect further appreciation of property values across both houses and apartments. However, potential investors and homeowners should keep an eye on economic factors such as employment rates, interest rates, and local development projects that could impact these projections.
Moreover, with any burgeoning market comes the possibility of increased supply if new construction responds to growing demand. How this potential influx of new properties will affect the market dynamics is yet to be seen but could offer additional options for buyers and investors alike while stabilizing price growth over time.
