Ballinafad, Ontario Real Estate Market Data
Updated: Nov 2024
House
Median price | $550,000 |
Monthly growth | 1.5% |
Quarterly trend | 4.0% |
Stock on market | 0.6% |
Apartment
Median price | $320,000 |
Monthly growth | 1.0% |
Quarterly trend | 2.5% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $450,000 |
3 bedrooms | $550,000 |
4 bedrooms | $650,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $260,000 |
2 bedrooms | $360,000 |
3 bedrooms | $460,000 |
Demographics
Current Population (2025) | 16,000 |
Previous Population (2020) | 15,000 |
Population Change | 6.7% |
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
The real estate market in Ballinafad, Ontario is currently experiencing steady growth. The median house price in the area is $550,000, with a positive year-over-year trend of 4%. This indicates a healthy demand for homes, which is likely being fueled by the significant population growth of 6.7%.
On the other hand, the median apartment price stands at $320,000, with a slightly lower year-over-year increase of 2.5%. The slower growth rate for apartments may suggest a more saturated market or less demand compared to houses. Despite this difference, the overall real estate market shows resilience and attractiveness to potential homebuyers and investors.
Investment Opportunities and Potential
With a growing population that has increased to 16,000, there is potential for investors to capitalize on rental properties—particularly family homes given the stronger growth in house prices. The increasing population could also lead to a rise in demand for both rental and owned properties, as new residents look for accommodation in Ballinafad.
The consistent appreciation of house prices at 4% per annum suggests that investing in residential property in Ballinafad could yield significant returns over the long term. Additionally, the slightly lower increase in apartment prices might offer an entry point for investors looking for a more affordable investment with potential for future appreciation.
Future Market Outlook
The future outlook for Ballinafad’s real estate market remains optimistic. If current trends continue, we can expect ongoing gradual increases in property values across both houses and apartments. The robust population growth rate of 6.7% will likely continue to drive housing demand, potentially pushing prices upward and reducing inventory levels.
An important factor that could influence the future market is the local economy’s ability to support the growing population through job creation and infrastructure development. Should these aspects remain favorable, Ballinafad’s real estate market could experience sustained growth and present continued opportunities for both homeowners and investors alike.