Cumberland, 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 Cumberland, Ontario is experiencing consistent growth with a notable year-over-year increase in property values. The median house price currently stands at $500,000, reflecting a healthy 3.5% growth compared to the previous year. Apartments are also showing a positive trend, with a median price of $300,000 and a 2.1% price increase year-over-year. This steady growth is underpinned by Cumberland’s expanding population, which has risen by 7.1%, indicating a robust demand for housing in the region.
Investment Opportunities and Potential
With an upward trajectory in property prices and a burgeoning population, Cumberland presents attractive investment opportunities. The sustained increase in house prices signifies the potential for solid capital gains for investors looking to enter the market or expand their portfolio. Apartments offer an alternative entry point with a lower median price point of $300,000 while still maintaining moderate appreciation, potentially appealing to first-time investors or those seeking more affordable options.
Future Market Outlook
The future outlook for Cumberland’s real estate market remains optimistic. Given the current trends and population growth, demand for housing is expected to persist, potentially driving further price increases. The consistent rise in property values suggests that the market has not yet reached its peak and may continue to offer investment returns over the coming years. Investors and homebuyers should monitor local developments closely, as infrastructure projects and economic factors could further influence market dynamics.
