Cognashene, 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 Cognashene, Ontario is currently characterized by moderate growth. With a median house price of $500,000, the market has experienced a year-over-year increase of 3.5%. This indicates a steady demand for housing and a relatively stable market condition. The median apartment price stands at $300,000, which has seen a smaller growth rate of 2.1% year-over-year. This difference in growth rates suggests that houses are currently a more dynamic segment than apartments.
The population of Cognashene has reached 15,000 and shows a robust growth of 7.1%, which is significantly higher than national averages. This increase in population is likely contributing to the sustained demand for housing and the upward pressure on property prices.
Investment Opportunities and Potential
Given the steady growth in property values and the significant population increase, Cognashene presents valuable investment opportunities. Investors may find potential in purchasing residential properties to cater to the growing demand. The higher growth rate for houses compared to apartments could suggest that single-family homes or larger residential units might offer better capital appreciation prospects.
Additionally, with ongoing population growth, rental properties could become increasingly lucrative due to rising demand for housing from new residents. Investors should consider both long-term capital gains from property value increases and potential rental income when evaluating investment opportunities.
Future Market Outlook
The future real estate market outlook for Cognashene appears positive. If current trends continue, with steady price growth and increasing population numbers, the market is expected to remain healthy. The ongoing development and influx of residents can lead to further infrastructure improvements and commercial investments that spur economic activity in the area.
However, investors should monitor interest rate trends and economic policies that may affect affordability and borrowing costs. A balance between supply and demand will be crucial to maintain market stability. Should population growth continue at its current pace without corresponding increases in housing supply, there could be additional upward pressure on prices, favoring sellers and investors but potentially challenging first-time homebuyers.
