Birr, 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 Birr, Ontario is currently experiencing a steady increase in property values. With a median house price of $500,000, the market has observed a 3.5% year-over-year growth. This indicates a healthy demand for residential properties, reflecting confidence in the local housing market. Additionally, the median apartment price stands at $300,000, showing a slower yet consistent growth with a 2.1% year-over-year trend. This suggests that while houses are the primary drivers of the market, apartments are also gaining value, appealing to different segments of buyers and investors.
Investment Opportunities and Potential
Investors looking to capitalize on the Birr real estate market will find promising opportunities due to its growing population, which has seen a substantial 7.1% increase. This demographic expansion can lead to higher demand for housing and potentially drive up rental yields. The consistent growth in property values presents an opportunity for capital gains over time. Moreover, with both housing and apartment prices trending upwards, investors can diversify their portfolios by investing in different types of properties to spread risk and take advantage of various market segments.
Future Market Outlook
The future outlook for Birr’s real estate market appears positive. The sustained population growth paired with increasing property values suggest that the demand for housing will continue to rise. Assuming that economic conditions remain stable and no significant changes affect the local economy negatively, the current trends are likely to persist. However, potential investors should monitor local development plans and infrastructure improvements, as these factors could further influence property values and enhance the attractiveness of Birr as an investment destination.
