Bewdley, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $310,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
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
The real estate market in Bewdley, Ontario is currently experiencing a steady growth. With a median house price of $525,000, which signifies a year-over-year increase of 4%, the market is showing signs of healthy appreciation. This trend is indicative of a robust demand for housing in the area. Similarly, apartments are also seeing an upward trajectory with a more modest growth rate of 2.5% year-over-year, bringing the median apartment price to $310,000.
The population of Bewdley has been growing at a rate of 3.3%, suggesting an increasing demand for residential properties. This influx can be attributed to Bewdley’s attractive living conditions and potential economic opportunities that are drawing people into the area.
Investment Opportunities and Potential
Given the steady growth in property values and the continuous population increase, Bewdley presents several attractive investment opportunities. The consistent rise in the median house and apartment prices points towards a market that has yet to reach its peak, offering investors the potential for capital gains over time.
Investors may consider both long-term rental strategies due to the growing population seeking housing and short-term flips given the progressive increase in property values. The diversification between single-family homes and apartments allows for various investment approaches suitable for different investor profiles.
Future Market Outlook
The future market outlook for Bewdley remains positive. The sustained population growth suggests ongoing demand for housing, which is likely to maintain upward pressure on property prices. Assuming no significant economic disruptions, the real estate market in Bewdley is poised for continued growth.
An important consideration for future market projections is the limited supply in response to increasing demand; this dynamic could lead to higher price acceleration in the coming years. Investors and homebuyers alike should monitor local development plans and zoning changes as these factors could impact future value trends.
In conclusion, Bewdley’s real estate market shows promising signs for both buyers looking for a stable community to settle in and investors seeking profitable opportunities. Continued monitoring of economic and demographic trends will be vital for those looking to participate in the Bewdley real estate market.
