Cobourg, 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 Cobourg, Ontario, is currently experiencing a state of moderate growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing steady appreciation. This trend reflects a healthy demand for housing in the region. Similarly, apartments are becoming increasingly valuable, with a median price of $300,000 and a growth rate of 2.1% over the past year.
The population of Cobourg has reached approximately 15,000 residents, with an impressive growth rate of 7.1%. This demographic expansion is likely contributing to the strengthening real estate demand as more individuals and families seek residences in the area.
Investment Opportunities and Potential
Given the current trends, investing in Cobourg’s real estate market could be promising. The consistent increase in property values indicates a robust investment potential for both houses and apartments. Investors might find opportunities in purchasing residential properties to cater to the growing population or exploring development projects that align with the town’s expansion plans.
Focusing on areas with higher demand due to proximity to amenities such as schools, shopping centers, and public transportation could yield significant returns. Additionally, considering properties that may benefit from renovation or redevelopment could provide an attractive upside for investors willing to undertake such projects.
Future Market Outlook
The outlook for Cobourg’s real estate market remains optimistic. Assuming continued economic stability and the sustained influx of residents seeking small-town charm within commuting distance of larger urban centers like Toronto, property values are expected to maintain an upward trajectory.
As long as the local economy continues to grow and attract new residents, the demand for housing should persist. However, investors should be mindful of any changes in interest rates or economic conditions that could impact borrowing costs and affordability for prospective homebuyers.
In conclusion, Cobourg presents itself as an attractive market with potential for steady growth and investment opportunities. The key will be to monitor ongoing market trends closely and remain adaptable to shifts in consumer behavior or economic factors that could influence future market conditions.
