Blyth, 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 Blyth, Ontario has been exhibiting a steady growth with the median house price currently standing at $500,000, representing a year-over-year increase of 3.5%. This growth rate suggests a healthy demand for housing in the area, coupled with a potential constraint in housing supply that could be driving prices upward.
In contrast, the apartment sector is experiencing a more modest rise in prices, with the median apartment price at $300,000 and an annual growth of 2.1%. The slower rate of increase in apartment prices may indicate a more balanced market or potentially greater inventory levels relative to demand compared to the single-family home market.
The population of Blyth has reached approximately 15,000 residents, with a significant population growth rate of 7.1%. This rapid increase suggests a growing local economy and could be contributing to the ongoing demand for housing in the region.
Investment Opportunities and Potential
Given the steady rise in property values and significant population growth, Blyth presents attractive investment opportunities for both residential property investors and developers. The strong performance of detached homes indicates that there is an active market for these properties, likely fueled by families and professionals seeking more space and a small-town lifestyle.
The apartment market also offers potential for investors looking for long-term returns, especially as rental demand may increase due to the population influx. Developers may find opportunities to cater to this demand by constructing new apartment buildings or renovating existing structures to offer modern living spaces.
Future Market Outlook
The future real estate market outlook for Blyth is optimistic. If current trends persist, we can expect continued growth in property values, albeit potentially at a slower pace as affordability concerns might become more prominent for local buyers. However, if the local economy continues to expand and attract new residents at its current rate, demand is likely to remain robust.
Focused investments in infrastructure and community amenities by municipal authorities could further enhance the attractiveness of Blyth as a place to live and work. Additionally, if interest rates remain low or stable, this could continue to support buyer financing capabilities and contribute positively to market activity.
In summary, Blyth’s real estate market is positioned well for continued growth owing to positive population trends and a strong local economy. Investors should monitor key indicators such as employment rates, housing inventory levels, and government policies that may impact future market conditions.
