Bala, Ontario Real Estate Market Data
Updated: Nov 2024
House
Median price | $520,000 |
Monthly growth | 1.5% |
Quarterly trend | 4.0% |
Stock on market | 0.7% |
Apartment
Median price | $310,000 |
Monthly growth | 1.0% |
Quarterly trend | 2.5% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $520,000 |
4 bedrooms | $620,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $260,000 |
2 bedrooms | $360,000 |
3 bedrooms | $460,000 |
Demographics
Current Population (2025) | 15,500 |
Previous Population (2020) | 15,000 |
Population Change | 3.3% |
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 Bala, Ontario
The real estate market in Bala, Ontario is experiencing a period of steady growth. The median house price in the area currently stands at $520,000, showing a 4% increase year-over-year. This suggests a healthy demand for single-family homes and a robust market that can support price appreciation. Similarly, the median apartment price has also seen an upward trend, with a 2.5% increase from the previous year, marking the current median at $310,000.
Bala’s population growth of 3.3% is another indicator of the town’s expanding market and economic vitality. This demographic trend is likely contributing to the sustained demand for housing in the area and may signal continued growth in housing prices if supply cannot keep pace with increasing demand.
Investment Opportunities and Potential
The real estate market in Bala presents several investment opportunities, particularly for those interested in tapping into the town’s growing population and stable economy. The consistent rise in property values indicates that investments in both houses and apartments have strong potential for capital gains over time. With house prices appreciating slightly faster than apartments, there may be more potential for higher returns on investment in single-family homes.
Given these trends, investors could consider diversifying their portfolio with properties catering to different segments of the market – including new families looking for starter homes, professionals seeking modern apartments, or retirees downsizing to more manageable living spaces.
Future Market Outlook
The forecast for Bala’s real estate market remains optimistic. If current trends persist, such as the steady population growth and sustained demand for housing, Bala can expect further appreciation in property values. The town’s real estate could become increasingly attractive to both buyers and investors seeking stability and long-term growth potential.
However, it is crucial to monitor external factors such as interest rates, economic policies affecting employment and income levels within Bala, as well as broader national economic conditions which can all influence local housing markets.
In conclusion, while past performance is indicative of a strong market environment, prospective buyers and investors should conduct thorough due diligence and consider both micro and macroeconomic factors before making any real estate investment decisions in Bala.