Corbyville, 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 Corbyville, Ontario is currently experiencing a steady growth pattern. The median house price in the region stands at $500,000, which represents a year-over-year increase of 3.5%. This indicates a healthy demand for housing that is slightly outpacing the national average. Comparatively, the median apartment price is at $300,000, with a more modest annual appreciation of 2.1%. Such trends suggest that houses are in higher demand than apartments, potentially due to factors such as preferences for space and privacy.
The population of Corbyville has grown to 15,000 residents, with an impressive growth rate of 7.1%. This influx of new residents could be attributing to the increasing housing demand, subsequently driving up property values.
Investment Opportunities and Potential
Given the current market conditions, investment opportunities within Corbyville appear promising. The consistent rise in property values coupled with significant population growth suggests that there is ongoing and potentially increasing demand for both ownership and rental properties. Single-family homes present strong investment potential due to their higher appreciation rate.
In addition to traditional residential properties, investors may also consider exploring new construction opportunities or refurbishing existing properties to cater to the growing population’s housing needs. With a trend towards increasing property values, long-term investments could yield substantial returns if the market continues on its current trajectory.
Future Market Outlook
The future outlook for the Corbyville real estate market remains optimistic based on current data. Assuming similar economic conditions persist, with a stable local economy and continued population growth, both the house and apartment markets should maintain their upward trends.
However, investors and homebuyers should stay informed about any changes in local economic drivers or demographic shifts that could impact these trends. It’s also advisable to monitor broader provincial and national real estate market trends that could influence local market dynamics in Corbyville.
Potential external factors such as interest rate changes, government housing policies, and global economic events could also play significant roles in shaping the future real estate landscape of Corbyville. Nonetheless, current indicators point towards a favorable investment environment over the medium to long term.
