Bourget, 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 Bourget, Ontario, presents a stable growth environment as evidenced by the current market data. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This increment is slightly above the national average, indicating healthy demand and a competitive market for single-family homes. Similarly, apartments are also seeing appreciation with the median price at $300,000 and experiencing a more modest growth rate of 2.1% year-over-year. Such trends suggest a balanced market that is neither overheating nor stagnating.
The population of Bourget has reached approximately 15,000 residents, with a robust growth rate of 7.1%. This demographic expansion is a positive indicator for sustained demand in housing, both for rental and purchase purposes.
Investment Opportunities and Potential
The combination of steady price appreciation and significant population growth provides fertile ground for investment opportunities in Bourget’s real estate market. Investors can expect continued demand for housing which could lead to capital gains over time and potential rental income streams. Given the rise in house prices outpacing that of apartments, there may be an opportunity to invest in single-family homes which could yield higher returns in terms of both rental income and resale value.
New developments and projects responding to the increased population could also be lucrative. As more people move to Bourget, there will likely be a need for more diverse housing options including townhomes, duplexes, and low-rise apartment buildings which offer affordability while maximizing land use.
Future Market Outlook
The future market outlook for Bourget remains optimistic given current trends and data. The consistent population growth suggests ongoing demand for housing which should underpin prices. If the local economy continues to expand alongside the population, we can expect to see sustained or possibly increased rates of property price appreciation.
However, it’s important to monitor broader economic conditions such as interest rates, employment rates in the region, and any changes in government housing policies which can affect affordability and purchasing power. Provided these factors remain conducive to growth, Bourget’s real estate market should continue on its upward trajectory making it an attractive location for both homeowners and investors alike.
