Cambridge, Ontario, is a vibrant city that blends rich history with modern-day charm, making it an ideal place to buy a home or invest in real estate. Located just an hour’s drive from Toronto, Cambridge is home to several well-known landmarks and attractions that make it an attractive destination for families, professionals, and retirees.
The Historic Downtown of Cambridge offers a unique mix of heritage architecture and trendy boutiques, cafes, and restaurants. The Galt District, in particular, is known for its stunning Victorian-era buildings, which house various art galleries, shops, and cultural centers. For history buffs, the Cambridge Butterfly Conservatory is a must-visit, showcasing an expansive collection of butterflies and lush gardens. The nearby Doon Heritage Village offers a glimpse into the past, where visitors can explore the region’s early rural life with interactive exhibits and live demonstrations.
For those interested in nature, Cambridge is surrounded by beautiful parks and trails. The Grand River runs through the city, offering scenic views and opportunities for kayaking, hiking, and biking along the Grand River Trail. Victoria Park, located in the heart of Cambridge, is a popular spot for picnics and outdoor activities.
Whether you’re looking for a cozy family home in a quiet neighborhood or an investment property near the bustling downtown area, Cambridge offers a wide range of real estate options. With its blend of natural beauty, rich heritage, and convenient location near major highways, it’s no wonder that Cambridge is becoming a top choice for homebuyers. Explore the opportunities in this dynamic city, where history and modern living seamlessly intertwine.
The real estate market in Cambridge, Canada, has shown some fluctuations from 2022 to 2024. In 2022, the market was robust, with a total of 273 homes sold in the third quarter alone, reflecting a healthy demand. However, by the end of 2023, sales had decreased to 78 homes in December, marking a 13% increase from the previous year but still indicating a slowdown in activity. As of April 2024, the market continued to experience lower sales figures, with approximately 170 homes sold during that month, suggesting a trend of stabilization rather than growth in the number of transactions136.
Active listings have seen a significant increase over this period. In December 2023, there were 217 active listings, representing a 44% rise compared to December 2022. This increase in inventory has provided buyers with more options in the market, contributing to a more balanced environment between supply and demand. The rise in active listings was further confirmed in April 2024 when the number of houses on the market increased by 19% compared to March of the same year135.
As for home values, the average estimated price for houses in Cambridge has experienced some decline recently. In October 2024, the average home price was reported at approximately $735,824, which indicates a 2.7% annual decrease and a 3.0% monthly decline from previous periods. Detached homes averaged around $885,587, while townhouses and condominiums also saw varied price adjustments. Despite these declines, it is anticipated that as interest rates stabilize and potentially decrease, home prices may begin to rise again later in 2024.
