Bayside, 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
1. Current Market Conditions and Trends in Bayside, Ontario
The real estate market in Bayside, Ontario, currently presents a stable growth environment. With a median house price of $500,000 and an ongoing year-over-year increase of 3.5%, the market is experiencing healthy appreciation rates. This steady growth trend indicates a robust demand for housing and a competitive market landscape.
Similarly, the apartment sector in Bayside also shows positive momentum with a median price point of $300,000 and an annual appreciation trend of 2.1%. This slower pace compared to houses suggests that apartments might be a more accessible entry point into the real estate market for first-time buyers or investors looking for lower capital outlay options.
Bayside’s population has grown by 7.1%, which is significantly contributing to housing demand. The demographic expansion underpins the need for residential properties and could be driving the price increase due to heightened competition among buyers.
2. Investment Opportunities and Potential in Bayside’s Real Estate Market
Given the steady growth in property values, Bayside offers promising investment opportunities for both residential houses and apartments. The consistent appreciation rate above inflation levels presents potential for capital gains over time. Real estate investors might be inclined to invest in single-family homes due to their higher appreciation rate.
Additionally, the burgeoning population suggests an ongoing or increasing demand for rental properties. Investors could potentially benefit from purchasing properties to cater to this segment while capitalizing on the equity growth of their assets.
3. Future Market Outlook for Bayside, Ontario
The future outlook for Bayside’s real estate market remains optimistic based on current trends and data. Assuming continued population growth and economic stability in the region, it is reasonable to expect that both house and apartment prices may continue their gradual ascent.
However, investors should remain vigilant about broader economic factors that could influence mortgage rates, employment levels, and consumer confidence—all of which can have significant impacts on real estate markets.
In conclusion, while short-term fluctuations are always possible, long-term investment in Bayside’s real estate appears promising given current conditions. Continuous monitoring of market trends and demographic shifts will be crucial for those looking to capitalize on Bayside’s real estate potential.
