Cornell, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $270,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Cornell, Ontario, is currently experiencing moderate growth. The median house price in the area stands at $520,000, reflecting a year-over-year increase of 4%. This steady appreciation indicates a healthy demand for detached homes within the region. Similarly, the apartment sector is also witnessing growth with a median price of $320,000 and an annual appreciation trend of 2.5%. The consistent rise in property values suggests that Cornell’s real estate market is robust and offers a stable investment environment.
With a population of 15,500 that has grown by 3.3% recently, Cornell is on an upward trajectory in terms of demographic expansion. This increase in population is likely contributing to the demand for housing and can be seen as a positive signal for continued real estate market health.
2. Investment Opportunities and Potential
The investment opportunities within Cornell are promising due to the steady growth in property values. For investors looking at long-term capital gains, single-family homes present a lucrative avenue with a 4% growth rate over the last year. Apartments also offer potential with a slightly lower yet consistent appreciation trend of 2.5% year-over-year.
Given the demographic trends, there’s potential for both rental and resale markets. Investors could capitalize on the growing population by investing in properties to cater to new residents or those looking to upgrade their living situation as the community expands.
Additionally, Cornell’s real estate market may benefit from investors interested in development projects. The positive population growth rate suggests there might be an increasing need for new residential units in the future, presenting opportunities for development and pre-construction sales.
3. Future Market Outlook
The future outlook for Cornell’s real estate market remains optimistic. With an ongoing population growth rate of 3.3%, it is likely that demand for housing will continue to rise. If these demographic trends hold steady or improve, we can expect sustained or possibly increased growth rates in property values over the coming years.
However, investors must also consider external economic factors such as interest rates, employment rates within the area, and broader economic conditions which can influence buyer sentiment and purchasing power.
In conclusion, while current trends suggest favorable conditions for investment and growth within Cornell’s real estate market, careful monitoring of economic indicators and local developments will be crucial for making informed investment decisions moving forward.
