Kapuskasing, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Kapuskasing, Ontario, is currently characterized by a stable growth pattern. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing consistent appreciation, indicative of a healthy demand for single-family homes. Concurrently, apartment units have seen a slightly more modest growth with a 2.1% year-over-year increase, bringing the median apartment price to $300,000. This balanced growth across different housing types suggests a versatile market catering to various segments of buyers and investors.
Demographically, Kapuskasing is experiencing significant population growth at 7.1%. This is above average and likely contributes to the steady demand for housing in the area. The influx of new residents has the potential to sustain long-term growth in the housing market as the need for accommodation increases.
Investment Opportunities and Potential
The positive trend in population growth paired with consistent property value appreciation indicates that Kapuskasing presents viable investment opportunities. Investors could expect continued capital gains based on current trends, particularly if investing in single-family homes which are experiencing higher rates of appreciation.
Furthermore, with median home prices at half a million dollars, there exists an accessible entry point for investors compared to larger urban markets. The robust population growth may also signal opportunities for rental property investments as new residents may seek temporary housing before purchasing homes, potentially leading to an increase in rental demand.
Future Market Outlook
Looking ahead, the future market outlook for Kapuskasing’s real estate remains positive. Given the steady economic indicators and population growth, it is reasonable to anticipate continued demand for residential properties. Should these trends persist, both housing prices and rental rates could maintain an upward trajectory.
However, investors should remain aware of broader economic variables such as interest rates and employment levels which can impact local markets significantly. Monitoring these factors will be key in assessing whether current trends will hold over the longer term. Vigilance and adaptability will be crucial strategies for anyone looking to enter or remain engaged in Kapuskasing’s real estate market.
