Bright, 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 Bright, Ontario is currently experiencing steady growth. With a median house price of $500,000 and an annual appreciation trend of 3.5%, the housing market is showing resilience and consistent value gain. This positive trend is also reflected in the apartment sector, where the median price stands at $300,000 with a year-over-year increase of 2.1%. Given the population of 15,000 which has grown by 7.1%, demand for housing in Bright continues to rise, likely contributing to the upward pressure on property values.
Investment Opportunities and Potential
For investors considering Bright, Ontario as a potential location, the data indicates promising opportunities. The steady increase in property values suggests that investments in both residential houses and apartments are likely to benefit from capital appreciation over time. The significant population growth outpaces many other regions, hinting at strong rental demand which could be capitalized by investors looking for income-generating properties. Furthermore, the moderate price points for both houses and apartments make market entry accessible for a range of investment budgets.
Future Market Outlook
The future of Bright’s real estate market looks optimistic given current trends and demographic indicators. With continuous population growth coupled with sustainable property value increases, Bright is poised to maintain its appeal among both homeowners and investors. While no market is immune to economic fluctuations, the robust growth pattern presents a compelling case for the long-term stability and potential prosperity of Bright’s real estate market.
