Bloomfield, 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
As of the latest data, Bloomfield, Ontario is experiencing a stable growth in its real estate market. The median house price in the area has reached $500,000, marking a year-over-year increase of 3.5%. This steady upward trend indicates healthy demand and a competitive market environment for single-family homes.
In the apartment sector, the median price stands at $300,000, with a slightly lower year-over-year growth rate of 2.1%. This suggests that while there is growth in the apartment market, it is not as robust as the single-family home segment. Nonetheless, apartments remain an attractive option for certain demographics within the population.
The population of Bloomfield has grown to 15,000 residents, with an impressive growth rate of 7.1%. This rapid increase suggests that Bloomfield is an attractive location for new residents, which may be due to economic opportunities, lifestyle appeal, or other factors contributing to its desirability.
Investment Opportunities and Potential
The consistent growth in property values coupled with significant population increases point toward promising investment opportunities in Bloomfield’s real estate market. Investors considering entry into this market can find potential in both residential and rental properties given the robust population growth.
For residential investments, the uptick in house prices indicates a strong resale market with the potential for capital gains over time. The ongoing demand for housing should sustain this momentum, providing investors with confidence in purchasing properties for long-term appreciation.
Rental properties are also an attractive investment opportunity. As more people move into Bloomfield, demand for rental accommodation is likely to increase. Investors can look into acquiring apartments or developing multi-family units to cater to this segment, especially focusing on locations near employment centers or amenities that would attract potential renters.
Future Market Outlook
The future outlook for Bloomfield’s real estate market remains optimistic based on current trends and demographic indicators. With a strong population growth rate of 7.1%, it is expected that housing demand will continue to rise. This bodes well for both the house and apartment markets despite their different growth rates.
If current economic conditions persist and Bloomfield continues to attract new residents due to its appealing qualities such as employment opportunities or lifestyle benefits, we can anticipate continued appreciation in property values.
Prospective investors and homeowners should remain cognizant of national economic policies and local development plans that could influence market dynamics. However, based on available data, Bloomfield presents itself as a stable environment with potential for sustained real estate growth over the coming years.
