Brampton, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $800,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.5% |
Apartment
| Median price | $500,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $650,000 |
| 3 bedrooms | $800,000 |
| 4 bedrooms | $950,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $450,000 |
| 2 bedrooms | $500,000 |
| 3 bedrooms | $600,000 |
Demographics
| Current Population (2024) | 650,000 |
| Previous Population (2019) | 635,000 |
| Population Change | 2.5% |
| Total Private Dwellings | 220,000 |
| Occupied Private Dwellings | 210,000 |
| Population Density (per km²) | 260.0 |
| Land Area (km²) | 250.0 |
Market Analysis
Current Market Conditions and Trends
The Brampton real estate market is currently characterized by a steady growth in property values. With the median house price standing at $800,000 and a year-over-year increase of 4%, the market is showing signs of resilience despite broader economic challenges. Similarly, the median apartment price has reached $500,000, with a slightly more modest growth of 2.5% year-over-year.
This growth can be partially attributed to Brampton’s increasing population, which now stands at approximately 650,000 residents, with a robust growth rate of 2.5%. This demographic expansion has continued to drive demand for housing in all sectors, from entry-level apartments to family-sized homes.
The demand is further bolstered by relatively low-interest rates and Brampton’s appeal as a suburban alternative to the more expensive Toronto market. However, buyers may face stiff competition due to limited inventory, which can lead to bidding wars and quick sales above asking price.
Investment Opportunities and Potential
Brampton’s growing population and steady property value increases present significant investment opportunities. Investors are likely to find potential in both the house and apartment markets due to ongoing demand. The consistent appreciation in housing values suggests that investing in Brampton property could provide solid returns over the medium to long term.
Rental properties also offer an attractive opportunity due to the influx of new residents seeking housing. The city’s diverse economy and the presence of several large employers can attract a workforce that may not immediately seek homeownership, thus creating a stable rental market.
In addition to traditional residential properties, potential lies in Brampton’s burgeoning commercial real estate sector as businesses expand or relocate to accommodate the growing local economy.
Future Market Outlook
The future outlook for Brampton’s real estate market appears optimistic. Continued population growth should maintain demand for residential properties, underpinning the current upward trend in prices. Assuming that economic conditions remain stable and interest rates do not rise significantly, the housing market is likely to remain buoyant.
Long-term infrastructure projects and city planning initiatives aimed at accommodating expansion could further enhance property values by improving accessibility and quality of life for residents.
However, prospective investors and homebuyers should monitor local developments closely as factors such as changes in immigration patterns, economic shifts, or unforeseen global events could impact the market dynamics unexpectedly.
