Corunna, 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 Corunna, Ontario, is currently experiencing moderate growth. With a median house price of $500,000 and an upward year-over-year trend of 3.5%, the market is showing signs of steady appreciation. Similarly, the median apartment price stands at $300,000 with a slower growth rate of 2.1% over the past year. The positive growth trends in both housing segments indicate a healthy demand for residential properties in Corunna.
Corunna’s population has grown by 7.1%, which may put additional pressure on the housing market, leading to increased demand and potentially higher prices if the supply does not keep up. This demographic trend is a key driver behind the current market dynamics and points towards sustained activity as more people move to the area.
Investment Opportunities and Potential
Investors considering the Corunna real estate market can be cautiously optimistic due to its consistent growth patterns. The single-family home segment shows robust appreciation potential with a 3.5% rise in median prices year-over-year. Apartment units are also appreciating, albeit at a slower rate of 2.1%, suggesting a stable investment opportunity for those looking to enter the rental or resale markets.
Given the steady population increase, demand for housing is expected to remain strong, which could lead to higher rental yields and occupancy rates for investors focusing on income-generating properties. Furthermore, as new residents seek accommodation, there may be opportunities to invest in new developments or refurbish existing properties to cater to this growing market.
Future Market Outlook
The future outlook for Corunna’s real estate market remains positive based on current trends and demographic factors. If the population continues to grow at or above the current rate of 7.1%, it is reasonable to anticipate continued demand for housing, which should support ongoing property value appreciation.
However, investors and homeowners should monitor local economic developments and potential changes in interest rates that could impact affordability and borrowing costs. It will also be important to pay attention to any changes in government policies related to housing that could affect market dynamics.
In conclusion, Corunna’s real estate market presents an attractive landscape for buyers and investors alike due to its consistent growth, increasing population, and potential for future development. Stakeholders are advised to maintain a data-driven approach when making decisions in this evolving market.
