Kapuskasing, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.6% |
Apartment
| Median price | $290,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Kapuskasing, Ontario, the real estate market is currently experiencing steady growth. With a median house price sitting at $485,000, we’ve observed a moderate year-over-year increase of 2.8%. This suggests a stable and incrementally appreciating housing market. The median apartment price has also seen a growth, albeit more modest at 1.9%, reaching $290,000. These trends indicate that while the market is not booming, it maintains a consistent upward trajectory.
The local population has reached approximately 15,200 residents, with a growth rate of 2.7%. This increase in population is likely contributing to the demand for housing and can be considered an influential factor in the gradual appreciation of property values.
Investment Opportunities and Potential
The investment landscape in Kapuskasing appears promising for several reasons. The steady increase in property values provides opportunities for investors looking for long-term capital gains. Residential properties being at the forefront of this growth make them attractive assets for both rental and resale purposes.
The consistent population growth synergizes with real estate investments as it may lead to higher demand for rental properties. Investors could thus anticipate a favorable rental yield alongside property value appreciation. Additionally, Kapuskasing’s small-town charm coupled with its economic stability might attract individuals seeking alternatives to the bustling urban centers, potentially increasing investor interest in local real estate.
Future Market Outlook
The future outlook for Kapuskasing’s real estate market appears cautiously optimistic. Given the current data, there are no immediate signs of either significant downturns or explosive growth. The consistent rise in property prices and stable population increase suggest that the market will continue to grow at a sustainable pace.
It is worth noting that external factors such as economic policies, industry developments within the region, and national housing market trends could influence future conditions. Investors and homebuyers should therefore maintain an attentive eye on both local and broader market indicators to make informed decisions.
In conclusion, Kapuskasing’s real estate market presents itself as a potential hub for stable investments with reasonable expectations for continued growth in the foreseeable future.
