Cornell, 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 Cornell, Ontario is currently experiencing steady growth. With a median house price of $500,000, the year-over-year increase stands at 3.5%. This indicates a consistent upward trend in property values within the residential sector. Similarly, apartments are showing a positive trajectory with a median price of $300,000 and an annual growth rate of 2.1%.
The population of Cornell has also been on the rise, boasting a growth rate of 7.1%, which suggests an increasing demand for housing in the area. This population swell is likely to continue fueling demand for both ownership and rental properties, reinforcing the strength of the local real estate market.
Investment Opportunities and Potential
Given the robust population growth and steady appreciation in property values, Cornell poses attractive opportunities for real estate investment. Residential properties remain appealing due to their above-average growth in value, offering potential for both long-term capital gains and rental income.
Investors looking to capitalize on the lower end of the market might consider apartments as a viable option. With the 2.1% year-over-year increase in apartment prices, these properties are likely to generate sustainable returns while also serving as an entry point into the real estate market for first-time investors.
Future Market Outlook
The outlook for Cornell’s real estate market remains positive. As population numbers continue to climb, demand for housing is expected to rise correspondingly. Assuming that economic conditions remain stable and interest rates conducive for borrowing, the market should maintain its current trajectory of growth.
Potential headwinds such as economic downturns or significant changes in mortgage rates could impact this forecast; however, based on current trends and data, Cornell’s real estate market is poised for continued healthy performance in both the short and medium term.
