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 is currently experiencing a steady increase in property values. The median house price stands at $500,000, with a positive year-over-year growth rate of 3.5%, indicating a healthy demand for residential properties. Similarly, the median apartment price has been recorded at $300,000, which has seen a slightly more modest year-over-year increase of 2.1%. These trends suggest that the market is growing at a sustainable pace.
The population of Cobalt is approximately 15,000 residents and has seen a significant growth of 7.1%. This demographic shift could be a contributing factor to the rising demand for housing in the area. The data indicates that the market is currently stable with potential for continued growth, driven by demographic changes and an increasing interest in the region’s real estate.
Investment Opportunities and Potential
Given the current upward trend in property values and the significant population growth, Cobalt presents itself as an attractive location for real estate investment. Investors might find opportunities in purchasing residential properties to capitalize on potential capital gains or to generate rental income. The solid performance of both houses and apartments suggests that investments could be diversified across different types of properties.
The ongoing population increase may lead to higher demand for rental accommodations, making multi-family units and apartments particularly appealing for investors seeking steady cash flow. Additionally, as property prices are still relatively affordable compared to larger Canadian cities, there is room for appreciation as the local economy expands and attracts more residents.
Future Market Outlook
The future outlook for Cobalt’s real estate market appears positive. Assuming that current trends continue, including population growth and economic development, it is reasonable to expect further increases in property values over the medium to long term. The progressive 3.5% annual rise in house prices and 2.1% in apartment prices reflect a growing but stable market that is likely to attract both owner-occupiers and investors.
As more people move into the area, demand for housing will likely remain strong, potentially pushing prices upwards if supply does not keep pace with demand. Investors should monitor key economic indicators such as employment rates, infrastructure developments, and regional economic policies that could influence future market dynamics.
In conclusion, Cobalt’s real estate market currently offers a promising environment for investment with potential for continued growth. However, as with any investment, due diligence is essential, and keeping abreast of local developments will be key to making informed decisions.
