Bayham, 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 Bayham, Ontario
The real estate market in Bayham, Ontario, presents a stable growth environment reflected in its median house and apartment price trends. As of the latest data, the median house price stands at $500,000, which has experienced a healthy increase of 3.5% year-over-year. This uptick is indicative of a robust demand for housing in the area, likely fueled by both local factors and broader provincial real estate dynamics.
Similarly, the median apartment price currently sits at $300,000, with its growth trend showing a more modest but steady rise of 2.1% year-over-year. Such incremental growth suggests that the apartment market is also on an upward trajectory but may be subject to different supply and demand pressures compared to the detached housing segment.
With a population of approximately 15,000 residents and an above-average population growth rate of 7.1%, Bayham’s community is expanding at a pace that bodes well for ongoing demand for residential real estate. This demographic trend is key to sustaining the market’s momentum and could serve as a catalyst for future development projects.
Investment Opportunities and Potential in Bayham, Ontario
Investors considering Bayham’s real estate market will find diverse opportunities anchored by the region’s steady economic performance. The consistent rise in property values coupled with significant population growth establishes a positive scenario for investment.
Detached homes represent an attractive asset class due to their stronger appreciation rate of 3.5% over the past year. For those seeking long-term capital gains, investing in houses could yield favorable returns as market conditions suggest potential for continued appreciation.
Apartments offer a different value proposition with their more modest appreciation rate of 2.1%. They might appeal to investors targeting rental income streams or those catering to individuals and smaller families who prefer affordable housing options. The demographic expansion could particularly drive demand for such units as new residents seek accommodation in the area.
Future Market Outlook for Bayham, Ontario
Looking ahead, Bayham’s real estate market is poised to maintain its steady growth trajectory. Key indicators such as population expansion and year-over-year property value increases point towards sustained interest and investment potential in both housing sectors.
The continued influx of new residents should keep demand levels high, supporting property prices and encouraging new developments. However, it is crucial for investors and stakeholders to monitor regional economic trends, interest rate changes, and governmental housing policies that could impact market conditions.
In conclusion, provided that current economic conditions persist and no major disruptions occur, Bayham’s real estate market appears set for ongoing growth with promising opportunities for both homebuyers and investors focused on medium to long-term horizons.
