Bayfield, 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 (2025) | 15,000 |
| Previous Population (2020) | 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 Bayfield, Ontario is currently experiencing a period of steady growth. The median house price stands at $500,000 with a year-over-year increase of 3.5%. This suggests a stable but modest appreciation in property values in the region, indicating a healthy market that is potentially attractive to both homeowners and investors seeking moderate capital gains.
Conversely, the median apartment price is slightly lower at $300,000 and has seen a smaller rate of appreciation at 2.1% year-over-year. This slower growth rate in apartment prices may reflect a market that has more supply or less demand compared to single-family homes.
The population of Bayfield has been growing at a substantial rate of 7.1%, which may be contributing to increased demand for housing in the area. This demographic trend is likely exerting upward pressure on housing prices and could signal the onset of a more competitive market if growth continues.
Investment Opportunities and Potential
Given the current trends, investment opportunities within Bayfield’s real estate market appear promising. The steady increase in housing prices points to a stable investment climate with potential for ongoing capital appreciation. Single-family homes, with their higher growth rate, may offer greater potential for returns compared to apartments.
The significant population growth also opens up opportunities for rental property investments as there will be an increasing demand for housing from new residents. Investors could capitalize on this demand by investing in rental properties or developments that cater to this burgeoning population.
Furthermore, Bayfield’s current median prices for houses and apartments are relatively moderate when compared to larger urban centers, potentially offering more accessible entry points for investors looking to diversify their portfolios with real estate assets.
Future Market Outlook
The outlook for Bayfield’s real estate market remains optimistic given the strong fundamentals observed. The consistent rise in property values and significant population growth suggest that demand will continue to bolster the market. If these trends persist, it is reasonable to expect continued moderate appreciation in property values over the medium term.
However, future investors should remain aware of external economic factors such as interest rates, employment levels, and regional economic development which could affect the trajectory of the market. Monitoring these factors closely will be key to understanding any shifts in momentum within Bayfield’s real estate landscape.
In conclusion, Bayfield presents an appealing market with solid growth indicators and potential for future appreciation. As always with real estate investments, due diligence combined with an awareness of broader market forces will be critical in making informed investment decisions.
