Cormac, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $515,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $515,000 |
| 4 bedrooms | $625,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,700 |
| Previous Population (2020) | 15,000 |
| Population Change | 4.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The Cormac real estate market currently exhibits stable growth with the median house price standing at $515,000, marking a year-over-year increase of 4%. This consistent appreciation in housing prices indicates a healthy demand driving the local real estate market. The median apartment price is also on an upward trend, priced at $315,000 and showing a year-over-year rise of 2.5%. These figures suggest that Cormac’s market is expanding at a modest pace, maintaining a balance that could be attractive to both buyers and investors seeking sustainable long-term growth.
Investment Opportunities and Potential
Considering the steady price appreciation in Cormac’s housing sector, investment opportunities are promising. The consistent growth in property values suggests that investments in both houses and apartments are likely to yield positive returns. With the population growing at a rate of 4.67%, there is an increasing demand for housing, potentially leading to tighter markets and higher property values over time. Investors looking to capitalize on rental properties may find the apartment sector particularly appealing due to its lower entry price point and growing rental demand.
Future Market Outlook
The future outlook for the Cormac real estate market appears optimistic. Population growth is robust, as evidenced by the current 4.67% increase, which will likely continue to fuel housing demand. If economic conditions remain stable and the population continues to rise, the market could see sustained growth in property values across both houses and apartments. This demographic trend, coupled with moderate yet steady price increases, positions Cormac as a potentially lucrative market for both homeownership and real estate investment strategies aimed at long-term asset appreciation.
