Bala, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $475,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| 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 has demonstrated steady growth over the past year. With a median house price currently sitting at $525,000, the market has seen an increase of 4.2% year-over-year. This suggests a healthy demand for single-family homes in the region. On the other hand, apartments are slightly more accessible with a median price of $315,000, showing a moderate yet consistent growth trend of 2.5% year-over-year. Such trends indicate a stable increase in property values across different housing types.
Investment Opportunities and Potential
Bala’s real estate market presents various investment opportunities. The steady increase in property values coupled with a significant population growth of 3.3% points to a burgeoning market with potential for both short-term gains through property flipping and long-term gains through rental properties. Given the difference in pricing trends between houses and apartments, investors have the flexibility to target different segments of the market depending on their financial strategies and risk profiles.
Future Market Outlook
The future outlook for Bala’s real estate market appears optimistic. With an expanding population, currently at 15,500, and ongoing developments, demand for housing is likely to maintain its upward trajectory. As economic conditions evolve and infrastructure improves, we can expect continued interest from both buyers and investors in Bala’s real estate landscape. Careful monitoring of economic indicators and regional development plans will be key in predicting long-term market behavior and potential shifts in trends.
