Bancroft, 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
The real estate market in Bancroft, Ontario is currently experiencing steady growth with the median house price standing at $500,000, reflecting a year-over-year increase of 3.5%. This suggests a healthy demand for housing coupled with a moderate level of inventory that supports gradual price appreciation. The apartment sector is also showing positive momentum with the median price at $300,000, and a more modest year-over-year growth rate of 2.1%. The population of Bancroft has reached approximately 15,000 residents, benefiting from a significant growth rate of 7.1%, which may be contributing to the sustained demand for housing in the region.
Investment Opportunities and Potential
The investment landscape in Bancroft presents promising opportunities, especially considering the town’s population growth and the continuous appreciation in property values. Single-family homes appear to be a solid investment choice due to their higher appreciation rate of 3.5%. Investors looking for long-term gains might consider this market segment particularly attractive. On the other hand, apartments offer a lower entry point at $300,000 and although they have a slower appreciation trend at 2.1%, they might provide an appealing option for investors aiming for rental income in an expanding market influenced by population growth.
Future Market Outlook
The outlook for Bancroft’s real estate market remains optimistic. The ongoing population growth of 7.1% is likely to sustain housing demand, potentially leading to continued appreciation in property values. If current trends persist, both housing and apartment sectors are expected to experience further price increases, albeit at measured rates that reflect the town’s growing but still small-scale real estate market. Investors and homebuyers should monitor local developments closely, such as infrastructure improvements or economic initiatives that could influence future market dynamics. Caution is advised as external factors like interest rates or broader economic conditions could also impact local real estate trends.
