Balmertown, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| 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 | $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 | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Balmertown, Ontario, is currently experiencing a period of moderate growth. The median house price in the area stands at $525,000, with a year-over-year increase of 4%. This trend suggests a healthy demand for homes and a steadily appreciating market. The median apartment price is also on the rise at $315,000, showing a more modest increase of 2.5% year-over-year.
With a population of 15,500 that has grown by 3.3%, Balmertown is experiencing demographic expansion which could be contributing to the housing demand. Increased population often leads to higher demand for both ownership and rental properties, exerting upward pressure on prices over time.
Investment Opportunities and Potential
The current trends indicate that Balmertown presents several investment opportunities. Given the steady rise in property values, investors may find good potential in purchasing residential homes to cater to families and professionals moving into the area. The consistent growth in the apartment sector also presents an opportunity for those looking to invest in rental properties or seeking more affordable entry points into the real estate market.
The town’s population growth further enhances these opportunities as it may lead to sustained demand for housing. This demographic trend, combined with the incremental price increases, suggests that real estate investments have the potential for stable appreciation and solid returns over time.
Future Market Outlook
The future outlook of Balmertown’s real estate market remains promising based on current data. If the population continues to grow at or above the current rate of 3.3%, housing demand is likely to remain strong. This will be particularly beneficial for long-term investors who are interested in capital gains.
Moreover, as long as economic conditions remain favorable and interest rates stay competitive, buyers will likely retain purchasing power which supports ongoing market activity and health. Careful attention should be paid to national economic indicators as well as local industry developments which could affect employment and consequently, housing demand.
In summary, Balmertown’s real estate market appears poised for continued growth with good investment potential across various property types. However, investors should maintain awareness of broader economic trends that might impact this localized market.
