Barhead, 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 Barhead, Ontario is currently experiencing steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%, indicating a stable and growing demand for residential properties. Similarly, the median apartment price stands at $300,000 with a slightly lower growth rate of 2.1% year-over-year. This trend suggests a diversifying market that caters to different housing needs and budgets.
The population of Barhead has grown by 7.1%, which is a significant factor contributing to the increased demand for housing in the area. This population growth often correlates with economic development and increased job opportunities, which can attract more residents and investors to the community.
Investment Opportunities and Potential
Given the steady uptick in property values and the healthy population growth, Barhead presents attractive investment opportunities for both individual investors and real estate developers. The continued appreciation of property prices indicates that investments made now could yield solid returns over time.
For those looking to invest in residential properties, single-family homes offer potential given their higher appreciation rate of 3.5%. However, apartments with a 2.1% growth rate also present a good entry point for investors looking for a more affordable option or seeking to cater to individuals or smaller families who prefer apartment living.
The town’s growing population may also signal an opportunity for rental investments as new residents may look for temporary accommodation before purchasing their own homes. Investors can potentially benefit from both capital appreciation and rental income.
Future Market Outlook
The future outlook for Barhead’s real estate market remains optimistic due to several key factors. The consistent rise in property values suggests confidence in the local market’s stability and potential for long-term growth. Furthermore, if the population continues to grow at or above the current rate of 7.1%, demand for housing is likely to remain strong.
However, it is essential for investors to consider national economic trends, interest rates, and local developments that could impact the real estate market. A strategic approach based on thorough research and consideration of broader market forces will be crucial when making investment decisions in Barhead’s dynamic real estate environment.
