Belleville, Ontario Real Estate Market Data
Updated: Nov 2024
House
Median price | $515,000 |
Monthly growth | 1.3% |
Quarterly trend | 4.2% |
Stock on market | 0.7% |
Apartment
Median price | $310,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.5% |
Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $425,000 |
3 bedrooms | $515,000 |
4 bedrooms | $625,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $260,000 |
2 bedrooms | $360,000 |
3 bedrooms | $460,000 |
Demographics
Current Population (2025) | 15,200 |
Previous Population (2020) | 15,000 |
Population Change | 1.3% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,700 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The Belleville real estate market is currently characterized by moderate growth. The median house price stands at $515,000, reflecting a year-over-year increase of 4.2%. This growth indicates a steady demand for housing in the area, which may be driven by Belleville’s amenities and its appeal to both retirees and working professionals. On the other hand, the median apartment price is $310,000, with a slightly lower year-over-year increase of 2.5%. This suggests that the apartment market is experiencing a steadier pace of growth compared to houses, potentially signaling a balanced demand from buyers seeking more affordable housing options or investment properties.
Investment Opportunities and Potential
Bearing in mind the current market conditions, Belleville presents various investment opportunities. The steady increase in housing prices indicates a stable market with potential for long-term capital gains. Investors looking to purchase rental properties may find the apartment sector particularly attractive due to its lower entry price point and consistent growth rate. Furthermore, as the population of Belleville has grown by 1.33%, there is an ongoing need for housing that could benefit investors. Areas of future development and neighborhoods experiencing revitalization could be key targets for those looking to invest.
Future Market Outlook
The future outlook of the Belleville real estate market appears cautiously optimistic. With a growing population currently at 15,200, it is reasonable to anticipate continued demand for housing, which may support sustained growth in property values. If the population trend continues at its current pace or accelerates due to economic expansion or migration inflows, the demand for both residential houses and apartments could potentially rise further. However, prospective investors and homeowners should also monitor external economic factors such as interest rates, employment levels, and broader provincial real estate trends that can impact local market conditions.