Bellrock, 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 Bellrock, Ontario is experiencing a steady increase in property values, with a year-over-year growth of 3.5% for houses, bringing the median price to $500,000. Apartments are also following an upward trend but at a slightly slower pace of 2.1% year-over-year, resulting in a median price of $300,000. This growth can be partly attributed to Bellrock’s expanding population, which has seen a significant increase of 7.1%. The robust population growth indicates an ongoing demand for housing that could continue to push property values upward.
Investment Opportunities and Potential
Given the consistent growth in property prices and the expanding population base, Bellrock presents several promising investment opportunities. The rising median house price points towards a healthy market where capital gains can be expected for long-term investors. Furthermore, the steady increase in apartment prices suggests that there is potential for rental investments as well. With the current trends, investors could look into acquiring properties with the intention of seeing appreciable value increases or generating stable rental income due to the increasing demand stemming from population growth.
Future Market Outlook
The future real estate market outlook for Bellrock remains optimistic. Assuming the continuation of current trends, such as population expansion and economic stability, the demand for housing should persist. This ongoing demand is likely to support further growth in property values over time. However, investors should remain aware of external factors such as interest rates, economic policies, and regional developments that could affect market conditions. Monitoring these elements closely will be crucial for making informed decisions about entering or exiting the Bellrock real estate market.
