Ballinafad, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
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 | $460,000 |
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
The real estate market in Ballinafad, Ontario, is currently experiencing a period of steady growth. With a median house price of $525,000 and an upward trend of 4% year-over-year, the market shows healthy demand for residential properties. Similarly, the apartment sector is witnessing a positive trajectory with a median price point of $315,000 and an annual increase of 2.5%. These trends indicate a consistent appreciation in property values within the region.
The population growth of 3.3% further supports the expanding real estate market. As more individuals and families are drawn to Ballinafad, the demand for housing continues to rise which may put upward pressure on property prices over time.
Investment Opportunities and Potential
For investors looking at Ballinafad’s real estate landscape, several opportunities present themselves. The continuous increase in property values suggests that purchasing residential real estate could be a sound investment with potential for capital gains. Specifically, the single-family home segment offers promising prospects given its higher growth rate compared to apartments.
The burgeoning population also hints at a potential need for rental properties. Investors might consider acquiring apartments or houses to cater to this segment, particularly as the town’s demographic expands. The current price trends for both houses and apartments suggest that investments made now could yield favorable returns through both rental income and long-term asset appreciation.
Future Market Outlook
The future outlook for Ballinafad’s real estate market remains optimistic. Given the sustained population growth rate of 3.3%, it is expected that demand for housing will continue to rise. Coupled with the historical price increases in both the house and apartment markets, this points towards a continued upward trend in property values over the coming years.
However, potential investors and homeowners should remain aware of broader economic factors that could impact interest rates, lending conditions, and general affordability which may in turn affect the real estate market dynamics.
Overall, as long as local economic conditions remain stable and population growth continues on its current trajectory, Ballinafad’s real estate market is poised for ongoing growth with ample opportunities for investment and positive returns.
