Cobalt, 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 Cobalt, Ontario
The real estate market in Cobalt, Ontario is currently experiencing a steady growth with the median house price standing at $500,000, reflecting a year-over-year increase of 3.5%. This consistent upward trend suggests a stable demand for residential properties and can be attributed to various factors including local economic conditions and housing supply dynamics. Similarly, the median apartment price has reached $300,000, growing at a slightly slower pace of 2.1% year-over-year. This divergence in growth rates may indicate a stronger market preference for detached homes.
With a population of 15,000 that has expanded by 7.1%, Cobalt’s real estate market is further buoyed by demographic pressures. The substantial population growth can lead to increased demand for housing, potentially creating a seller’s market where prices may continue to rise if the supply does not keep up with the demand.
Investment Opportunities and Potential in Cobalt, Ontario
The current trends and demographic indicators suggest that Cobalt holds significant investment potential. The steady appreciation in property values is favorable for long-term investment strategies. Investors might find the single-family home segment particularly attractive given the higher appreciation rate compared to apartments.
Moreover, the robust population growth indicates a potential rise in rental demand, which could benefit investors looking into multi-family dwellings or apartment complexes as rental properties. This demographic trend also presents opportunities for developers interested in new constructions to meet the growing housing needs of the community.
Future Market Outlook for Cobalt, Ontario
Looking forward, the future market outlook for Cobalt remains positive. Assuming that current trends persist and no major economic disruptions occur, both segments of the housing market (houses and apartments) are expected to maintain their upward trajectory in terms of pricing.
The ongoing population growth will likely continue to provide a foundational support for housing demand. However, it is critical for investors and stakeholders to monitor external factors such as interest rates, employment trends within the region, and broader economic policies that could influence consumer confidence and purchasing power.
Maintaining a balance between housing supply and demand will be key to sustaining healthy market conditions. Should there be any significant changes or developments on either side of this equation, they could have material implications on future prices and investment returns.
In summary, Cobalt’s real estate market shows promise for both homeowners looking to accrue value over time and investors seeking profitable opportunities driven by solid fundamentals such as rising property values and population growth.
