Ballycroy, 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
Current Market Conditions and Trends
In Ballycroy, Ontario, the real estate market is experiencing a period of modest growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market shows healthy demand for residential property. The median apartment price is currently at $300,000, with a slower growth rate of 2.1% year-over-year. This suggests that while the more affordable apartment segment is growing, it is doing so at a steadier pace than the house market.
The population of Ballycroy has been on the rise with a notable growth of 7.1%. This demographic expansion is likely contributing to the sustained demand for housing in the area. As more people move into the town, we can expect this trend to continue to exert upward pressure on both home prices and rental rates.
Investment Opportunities and Potential
The steady growth in house prices coupled with continuous population increase highlights Ballycroy as an attractive location for real estate investment. The consistent appreciation in property values indicates that investments made in the current market are likely to benefit from capital gains over time. Additionally, the burgeoning population suggests potential for rental properties to generate stable income streams for investors.
Investors should consider diversifying their portfolio across both houses and apartments to capitalize on different segments of the market. While houses have shown stronger price growth recently, apartments offer a lower entry point and may appeal to a broader rental market due to their affordability.
Future Market Outlook
The future outlook for Ballycroy’s real estate market remains positive given current trends and underlying fundamentals. Assuming that economic conditions remain favorable and population growth continues as forecasted, demand for housing is expected to remain robust.
Investors should monitor factors such as local employment rates, infrastructure developments, and interest rate changes, as these can significantly impact market dynamics. However, the solid foundation laid by recent growth patterns provides good reason for optimism about the continued health of Ballycroy’s real estate market.
