Bedford, 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 Bedford, Ontario is displaying positive growth, with the median house price currently standing at $500,000, reflecting a 3.5% increase year-over-year. The trend suggests a stable and growing demand for residential properties. Similarly, the median apartment price has reached $300,000, showcasing a 2.1% rise from the previous year. This consistent appreciation in property values indicates a healthy market that is beneficial for homeowners looking to gain equity.
With a population of 15,000 that has experienced a substantial growth rate of 7.1%, Bedford’s demographic trends are contributing to increased housing demand. This demographic expansion can be attributed to factors such as employment opportunities, quality of life, and the town’s appeal to both young professionals and families.
Investment Opportunities and Potential
The current trajectory of Bedford’s real estate market presents ample investment opportunities. Investors might consider capitalizing on the town’s growing population by investing in residential properties like single-family homes or apartments. Given the steady increase in property values, long-term investment strategies could yield significant returns through both rental income and capital appreciation.
Additionally, the more modest increase in apartment prices compared to houses indicates a potentially higher demand for more affordable housing solutions such as multi-unit residential buildings. This segment could offer an attractive entry point for investors seeking to cater to renters unable to purchase homes in the current market.
Future Market Outlook
The future outlook for Bedford’s real estate market remains optimistic based on current trends and data. The continued population growth coupled with sustained increases in property values suggests that the demand for housing will persist. Assuming local economic conditions remain favorable, with job creation and infrastructure development keeping pace with population growth, the market should continue to expand.
However, investors and potential homebuyers should stay informed about national economic policies and interest rates as they can impact mortgage affordability and influence housing demand. Close monitoring of these factors is essential for making well-informed decisions in Bedford’s real estate landscape.
