Belmore, 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 Belmore, Ontario is currently exhibiting steady growth. With a median house price sitting at $500,000, there has been a consistent appreciation in value, reflected by a 3.5% year-over-year increase. This suggests a healthy demand for single-family homes. Meanwhile, the median apartment price stands at $300,000, with a more modest but stable growth rate of 2.1% year-over-year. The simultaneous appreciation of both housing types indicates a balanced growth across different housing sectors.
The population of Belmore has experienced significant growth, now totaling 15,000 residents. This represents a robust population growth rate of 7.1%, which is likely contributing to the demand for housing in the area and supporting the current upward trend in property values.
Investment Opportunities and Potential
Given the current market conditions, Belmore presents several attractive investment opportunities. The consistent increase in property values coupled with strong population growth suggests that demand for housing will continue to rise. Investors may find particular potential in single-family homes due to their higher growth rate; however, apartments should not be overlooked as they offer a more accessible entry point into the market and appeal to smaller households or those seeking rental properties.
In addition to residential properties, the population increase could also signal opportunities for investment in commercial real estate and development projects aimed at meeting the needs of a growing community. There is potential for retail spaces, services, and amenities that would serve new and existing residents alike.
Future Market Outlook
The future market outlook for Belmore seems optimistic. The steady pace of price increases along with significant population growth lays the groundwork for continued demand. Barring unforeseen economic shifts or policy changes that could impact the housing market, these trends are likely to persist.
As more people move to Belmore, it can be expected that the local economy will also expand, possibly attracting further investment and potentially accelerating the current growth trends. Investors should monitor factors such as employment rates, infrastructure developments, and interest rates as they can affect future property values and rental market dynamics.
To conclude, Belmore’s real estate market appears poised for ongoing growth with promising opportunities for investors attentive to local trends and demographic shifts.
