Belmore, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $625,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,600.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Belmore, Ontario, is currently experiencing steady growth. The median house price in the area stands at $525,000, with a positive year-over-year trend of 4%. This indicates a healthy demand for single-family homes and a robust market that has been consistently appreciating in value. Similarly, apartments are also seeing an upward trajectory in prices, with the median apartment price at $320,000 and a slightly lower growth rate of 2.5% year-over-year. This growth is supported by the population increase in Belmore which has risen by 3.3%, signaling an influx of new residents and potential homebuyers.
Investment Opportunities and Potential
Investment opportunities within Belmore’s real estate market appear promising. The consistent house price appreciation presents potential for capital gains over time. For investors interested in rental properties, the growing population suggests a rising demand for housing. Apartments, with a lower entry price point and a steady increase in value, offer an attractive option for those looking to invest in multi-family units or enter the market at a more affordable level. Furthermore, as the population continues to grow, there may be opportunities to invest in new construction and development projects to meet the housing needs of this expanding community.
Future Market Outlook
The future outlook for Belmore’s real estate market remains optimistic. Given the steady population growth rate of 3.3%, it is likely that the demand for housing will continue to drive property values upward. The consistent year-over-year increase in house and apartment prices suggests that investing in Belmore’s real estate could yield positive returns over time. While current trends point towards continued growth, investors should also consider economic indicators such as employment rates, interest rates, and regional development plans as they can impact future market conditions.
