Bonfield, 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 | $420,000 |
3 bedrooms | $500,000 |
4 bedrooms | $620,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $260,000 |
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 Bonfield, Ontario, currently exhibits stable growth. With a median house price standing at $500,000, the market has seen a consistent increase with a 3.5% year-over-year growth rate. This indicates a healthy demand for residential properties and sustained homeowner interest. Apartments are also following an upward trend, albeit at a slower pace, with the median apartment price at $300,000 and witnessing a 2.1% year-over-year increase. The town’s population of 15,000 has been growing rapidly, as evidenced by the notable 7.1% population growth, which suggests that the area is becoming increasingly attractive for both living and investing.
Investment Opportunities and Potential
The data points to Bonfield being an appealing destination for real estate investors. The combination of steady property value appreciation and significant population growth creates an environment ripe for investment opportunities. Single-family homes are particularly promising given their higher appreciation rate. For those looking to enter the rental market or seeking lower entry points, apartments offer a viable alternative with moderate capital appreciation potential. The demographic trend indicates that there may be an increasing demand for rental properties as new residents seek housing. This positions investors well for potential returns through both long-term equity growth and rental income.
Future Market Outlook
Looking ahead, Bonfield’s real estate market is poised for continued growth. The strong population increase suggests that demand for housing will persist, potentially driving property values up further. If the current trends hold, investors and homeowners can expect to see ongoing appreciation in property values over the coming years. However, investors should remain cognizant of broader economic conditions and local developments that could impact these projections. As such, maintaining vigilance on both macroeconomic factors and municipal planning initiatives will be crucial in assessing future market performance.