Berkeley, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $530,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| 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 | $450,000 |
| 3 bedrooms | $530,000 |
| 4 bedrooms | $620,000 |
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) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
As of the most recent data, the real estate market in Berkeley, Ontario is experiencing steady growth. The median house price in this community stands at $530,000, which indicates a year-over-year increase of 4.2%. This suggests a healthy demand for detached homes and an upward pressure on prices likely driven by both local factors and broader provincial real estate trends.
Similarly, the median apartment price currently sits at $320,000, with a slightly lower growth rate of 2.5% over the past year. Apartments are witnessing a more modest appreciation rate compared to houses, which could reflect a market that caters to different demographics or possibly indicates a greater supply of such units.
The population of Berkeley has grown to 15,500 residents, showing a substantial increase of 3.3%. This demographic trend is an important indicator of potential housing demand and can be expected to continue fueling the real estate market in the area.
Investment Opportunities and Potential
The investment landscape in Berkeley presents several opportunities. The consistent growth in house prices points towards a stable market with ongoing demand for single-family homes. Investors looking for long-term capital appreciation may find these conditions favorable.
On the other hand, apartments are seeing slower yet positive growth in value. For investors interested in rental properties, apartments may present an attractive entry point due to their lower median price compared to houses. Given Berkeley’s growing population, rental demand is likely to strengthen, potentially offering stable rental yields and occupancy rates for investors.
Future Market Outlook
Looking ahead, there are several factors that suggest a positive outlook for Berkeley’s real estate market. The steady population growth should continue to underpin demand for housing. Moreover, if current trends persist, both the house and apartment markets are poised for continued appreciation albeit at different paces.
However, prospective investors and homebuyers should also consider broader economic indicators such as employment rates, interest rates, and regional economic development initiatives that could impact the future trajectory of the market.
