Bornholm, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $510,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.7% |
| Stock on market | 0.6% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $510,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Bornholm, Ontario currently exhibits a stable growth pattern. The median house price is marked at $510,000, with a year-over-year increase of 3.7%. This increment indicates a healthy demand for houses in the region, likely due to attractive local amenities and the overall quality of living.
Similarly, the apartment sector shows a positive trend with the median apartment price standing at $320,000, rising at a slightly slower pace with a year-over-year growth of 2.5%. This difference in growth rates between houses and apartments may reflect a stronger preference for single-family homes in Bornholm.
With a population of 15,200 that has grown by 4.8%, Bornholm is experiencing demographic expansion which could be contributing to the housing demand and supporting real estate values.
Investment Opportunities and Potential
The steady growth in property values combined with significant population expansion points to robust investment opportunities in Bornholm. The housing market appears ripe for both short-term gains through property flipping and long-term investment through rental properties given the consistent upward trend in property prices.
Investors might find particular potential in the single-family home market considering its higher growth rate. However, apartments should not be overlooked as they offer a more accessible entry point into the real estate market for both investors and first-time homebuyers.
The current trends suggest that investing in areas with upcoming infrastructure or community developments could yield substantial returns due to increased desirability and subsequent real estate appreciation.
Future Market Outlook
The future outlook for Bornholm’s real estate market remains optimistic. Assuming that the local economy continues to thrive and population growth sustains its current trajectory, one can expect ongoing demand for housing which will likely continue to drive up property values.
The consistent increase in median prices for both houses and apartments indicates a balanced growth across different housing types. Nonetheless, potential investors and homeowners should monitor economic indicators such as employment rates, interest rates, and regional development plans as these factors could significantly influence future market conditions.
In conclusion, Bornholm represents an attractive real estate market with solid growth patterns and promising investment opportunities. Both the data trends and demographic indicators suggest that this positive momentum will persist into the foreseeable future.
