Cormac, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $490,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.9% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $490,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 15,000 |
| Population Change | 1.3% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Cormac, Ontario, the real estate market is currently experiencing steady growth. The median house price stands at $490,000, which represents a 2.8% year-over-year increase. This suggests a healthy demand for housing in the area, with prices rising at a moderate pace. Meanwhile, the median apartment price is lower at $295,000, having seen a smaller yet consistent increase of 1.9% year-over-year. The incremental growth in apartment prices indicates a sustainable expansion of the market, catering to different segments of buyers.
Investment Opportunities and Potential
The current trends indicate that Cormac’s real estate market offers promising investment opportunities for both residential properties and rental units. The moderate increase in house prices provides an opportunity for investors to enter the market without the risks associated with overheated markets. Considering the median apartment price growth, investing in apartments could be particularly attractive to those looking to cater to smaller households or the rental market. As the population has grown by 1.33%, this demographic trend could drive further demand for varied housing options in Cormac.
Future Market Outlook
The future outlook for Cormac’s real estate market appears optimistic. With a population of 15,200 and counting—a sign of a growing community—the demand for housing is likely to continue its upward trajectory. It is reasonable to predict that both house and apartment prices may continue to rise at a steady rate as more people are attracted to Cormac’s appealing small-town charm coupled with its economic potential. Investors and homebuyers should monitor local developments closely, as new infrastructure projects or economic initiatives could further bolster property values and investment returns in the region.
