Bloomingdale, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Bloomingdale, Ontario currently presents a steady growth climate. The median house price stands at $500,000, showing a reasonably healthy year-over-year increase of 3.5%. This gradual appreciation suggests a stable market that has been attracting consistent interest from buyers. Similarly, the median apartment price is pegged at $300,000, which has risen by 2.1% over the past year. This more modest growth rate indicates that apartments are also in demand but may be experiencing slightly softer market conditions compared to houses.
With Bloomingdale’s population having experienced a significant surge of 7.1% growth, there is likely increased demand for housing across all types. The population increase can be attributed to both natural growth and migration, as the area may be drawing new residents due to employment opportunities, lifestyle factors, or other regional advantages.
Investment Opportunities and Potential
Given the steady growth in property values and the notable population increase, Bloomingdale shows promise for real estate investors. The consistent rise in house prices indicates a resilient market with potential for long-term capital gains. Investors looking to purchase residential properties may find single-family homes to offer attractive returns as the demand appears to remain robust.
For those considering investments in multi-family units or apartments, the slightly lower growth rate should not be a deterrent but rather an indicator for cautious optimism; it presents potential for rental income opportunities especially given the population growth and its effects on housing demand.
The key factor for investors will be to carefully evaluate local economic drivers, infrastructure developments, and neighborhood dynamics to identify properties that are likely to appreciate in value or provide stable rental incomes.
Future Market Outlook
Looking ahead, the future market outlook for Bloomingdale remains positive if current trends continue. The region’s strong population growth is likely to sustain demand for housing. Moreover, if local economic conditions remain favorable and attract further investment and job creation, this could provide additional support to the real estate market.
However, investors should stay informed about broader economic indicators such as interest rates and employment levels which could affect affordability and influence buyer sentiment. Additionally, keeping an eye on supply factors like new construction rates will be important in assessing whether the housing stock is keeping pace with demand.
Overall, provided there are no major economic shocks or shifts in policy that would adversely impact the market, Bloomingdale’s real estate sector seems poised for continued steady growth over the medium term.
