Condominium Market Outlook for Cambridge, Ontario in 2020
Cambridge Ontario is one of the emerging cities in the Ontario. Currently there are 18 new developments out of which 2 are condo developments, with 400 units under construction. Condo median list price for condos for sale in Cambridge is $389,900. These developments are mix of high-rise and low-rise planned, under construction and recently completed. There are only 16 listings are available at present in Cambridge.
Condos in Cambridge:
As mentioned before there are not many developments of the condos only two are available and their details are mentioned here. Grand Willow Condos new development presently in preconstruction at 155 Water Street South Cambridge, by Options for Homes. The completion schedule is still unknown and other advantages are it is nearby the public transportation options, near the Grand River, close to schools, surrounded by dining, shopping and entertainment and there is a number of parks nearby.
URBN Condos + Towns by Greentown Development a new development currently in preconstruction at 410 Dundas Street South, Cambridge. This is scheduled for completion in 2021 it is 4 storeys with total 60 condo and townhome units. The sales for the available units start form $299,900 to over $399,990. This development has total 56 units with size ranging from 560 to 861 square feet. The advantages to live here are it is present in the heart of city, close to schools and surrounded by dining, shopping and entertainment.
Forbes Estate by Polocorp Inc. is a new condo, and single family house development. It is presently in preconstruction at Guelph Avenue & Shaw Avenue West, Cambridge. It has total 67 units. Why one should prefer to live here? There are the following reasons; there is a number of scenic views, close to dinning, shopping and entertainment, close to revitalized Hespeler Village, Speed River and Mill Pond, and there are a number of parks nearby including Victoria Park, Woodland Park and Forbes Park.
Real estate market report:
According to a Survey release, price of home increases by 2.5 per cent reaching $519,692, year over year during the third quarter of 2019. The median price of a condominium increased by 5.8 percent to $323,185. During the same time the median price of a bungalow showed increase of 5.2 % rising to $484,837 and the median price of two-storey home price rise by 1.7 per cent to $547,275.
Why people are investing in this city?
The main reason for the high demand of the property n this city is the people from the big cities search for the affordable and well-settled cities that increase the demand for the more homes but the inventory is short that cause increase in the home prices as in this city you can buy 1200 square foot house with garage for $500,000. Other reasons are availability of the facilities like health, shopping, education better residency etc. young professionals and retirees also get chance to secure their future by finding an affordable amazing place to live in and earn a handsome amount to live an easy life.
