Belleville, 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 Belleville, Ontario is currently experiencing steady growth. The median house price in the area stands at $500,000, showing a year-over-year increase of 3.5%. This growth trend indicates a healthy demand for houses within the region. The market for apartments is also on the rise, albeit at a slower pace, with the median apartment price reaching $300,000 and an annual growth of 2.1%.
Belleville’s population has seen significant growth recently, with an increase of 7.1%, which brings the population size to approximately 15,000 residents. This demographic expansion is a positive indicator for continued demand in housing. Such population growth can lead to increased rental demand, suggesting that both the sales and rental markets are likely to remain robust.
Investment Opportunities and Potential
The ongoing population increase combined with steady price appreciation presents various investment opportunities within Belleville’s real estate market. Investors should consider Belleville as a promising location for purchasing rental properties due to its growing population and the associated demand for housing.
Single-family homes show potential for both capital appreciation and rental income due to their higher year-over-year price increase compared to apartments. However, apartments could appeal to investors seeking more affordable entry points into the real estate market or those looking to cater to individuals and smaller households who might prefer apartment living.
Furthermore, Belleville’s growing economy may attract more businesses and employees over time, potentially increasing the need for commercial real estate investments as well. Prospective investors should perform due diligence by analyzing specific neighborhoods within Belleville that align with their investment strategies and expected returns.
Future Market Outlook
The future outlook of Belleville’s real estate market remains optimistic based on current trends and data. With a robust population growth rate of 7.1%, it’s expected that housing demand will continue to surge. If economic conditions remain favorable and interest rates stable, this could support ongoing property value appreciation.
The consistent upward trend in house prices suggests that Belleville may continue seeing property values rise at a moderate pace in the foreseeable future. As long as employment rates hold steady or improve, it can be anticipated that both buyers’ purchasing power and overall market activity will sustain their current momentum.
In conclusion, Belleville offers solid opportunities for real estate investors and homeowners alike. Monitoring economic indicators along with staying informed about local developments will be key in capitalizing on future trends in this expanding Ontario market.
