Bailieboro, 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
1. Current Market Conditions and Trends
The real estate market in Bailieboro, Ontario is currently experiencing moderate growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing steady appreciation in property values. This is a positive indicator for homeowners and investors alike, as it suggests a healthy demand for housing in the area.
Apartments in Bailieboro are also seeing an uptick in prices, albeit at a slightly slower pace compared to houses. The median apartment price stands at $300,000, with a 2.1% year-over-year increase. This could be indicative of a strong rental market or first-time homebuyers looking for more affordable housing options within the region.
The population of Bailieboro has reached 15,000 residents and has seen a significant growth rate of 7.1%. This demographic expansion could be fueling the housing demand and contributing to the positive trends observed in the real estate market.
2. Investment Opportunities and Potential
Given the current market conditions, Bailieboro presents several investment opportunities. The consistent growth in house prices suggests that purchasing residential properties could yield capital gains over time. Investors should consider this trend when looking for long-term investments or considering buy-and-hold strategies.
Moreover, with an increasing population and subsequent housing demand, investing in rental properties might prove lucrative. The slower growth rate of apartment prices compared to houses indicates potential for rental investments as individuals may seek more affordable living arrangements.
The local economy and future development plans should also be considered as they can impact real estate values and rental demand. Investors are encouraged to conduct thorough research on these factors before making any commitments.
3. Future Market Outlook
The future outlook for Bailieboro’s real estate market appears optimistic. The consistent rise in property values coupled with robust population growth suggests that both the demand for housing and the potential for investment returns are likely to remain strong.
Should these trends continue, we can expect further appreciation in property prices and potentially increased interest from investors seeking to capitalize on Bailieboro’s growing market. However, it’s important to note that external economic factors such as interest rates, employment rates, and government policies can influence market dynamics.
Prospective buyers and investors should maintain awareness of national economic indicators and regional developments that may impact Bailieboro’s real estate landscape. Consulting with local real estate professionals can provide additional insights tailored to individual investment goals.
