Bloomingdale, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $550,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.3% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $475,000 |
| 3 bedrooms | $550,000 |
| 4 bedrooms | $675,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,600 |
| Previous Population (2020) | 15,000 |
| Population Change | 4.0% |
| 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 Bloomingdale, Ontario, is currently experiencing a period of steady growth. With a median house price sitting at $550,000 and an annual increase of 4%, the market is indicating healthy appreciation rates that are slightly above the national average. Meanwhile, the median apartment price is at a more accessible $320,000, having risen by 2.3% year-over-year.
The population of Bloomingdale has grown by 4%, suggesting an influx of new residents and potential homebuyers into the area. This population growth can be tied to a robust local economy or increasing desirability of the region which may be due to factors such as employment opportunities, local amenities, or a rise in remote working conditions allowing people to live further from urban centers.
Investment Opportunities and Potential
The steady increase in property values and population growth in Bloomingdale indicates a strong potential for investment opportunities. The continuous appreciation of the housing market suggests that purchasing residential property can yield solid returns over time. Investors looking for more affordable entry points might consider the apartment segment where prices are growing at a moderate pace.
In addition to the appreciation potential, rental demand is likely to grow alongside the population, presenting an opportunity for investors to generate passive income through rental properties. Given the current trends, it would be strategic to invest in areas poised for further development or those that cater to the needs of newcomers such as proximity to schools, public transportation, and commercial centers.
Future Market Outlook
The future outlook for Bloomingdale’s real estate market remains positive. Assuming no major economic shifts occur, the consistent population growth and property value appreciation indicate ongoing demand. The 4% annual increase in house prices suggests that there is still room for growth in this market without reaching an overheated status.
Investors and homebuyers should keep an eye on local developments and infrastructure improvements that could further enhance property values. However, they should also remain vigilant about broader economic indicators that could affect interest rates and borrowing costs. Overall, with smart planning and attention to both local and national economic trends, stakeholders can approach Bloomingdale’s real estate market with cautious optimism.
