Bowmanville, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $590,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $350,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $500,000 |
| 3 bedrooms | $590,000 |
| 4 bedrooms | $700,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $300,000 |
| 2 bedrooms | $380,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2024) | 16,000 |
| Previous Population (2019) | 15,500 |
| Population Change | 3.2% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Bowmanville, Ontario, is currently experiencing a period of steady growth. The median house price stands at $590,000, which reflects a 4% increase year-over-year. This trend indicates that the market is healthy and growing at a sustainable rate. The median apartment price is noted to be $350,000, with a slightly lower growth rate of 2.5% year-over-year.
Bowmanville’s population of 16,000 has been growing at an annual rate of 3.2%, suggesting an increasing demand for housing in the area. The combination of population growth and rising property values points to a robust market with strong buyer interest.
Investment Opportunities and Potential
Given the positive trends in the Bowmanville real estate market, there are numerous opportunities for investment. The continuous increase in property values offers potential for capital appreciation over time. Investors looking into residential properties may find single-family homes to be particularly appealing due to their higher year-over-year price increase compared to apartments.
The steady population growth also opens doors for rental property investments as there will be an ongoing need for housing from new residents moving to the area. Apartments could be a strategic investment choice considering their more affordable price point and appeal to individuals or small families looking for rental options.
Future Market Outlook
The future outlook for Bowmanville’s real estate market remains optimistic. With ongoing population growth and consistent increases in property values, the market is poised for continued expansion. Infrastructure developments and community investments may further bolster the attractiveness of Bowmanville as a place to live and invest.
However, investors should remain cognizant of broader economic conditions that could influence mortgage rates and affordability. Careful analysis of local trends and external factors will be essential in making informed decisions about entering or expanding presence in Bowmanville’s real estate market.
