Brockton, 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 Brockton, Ontario, is currently exhibiting sustainable growth. With a median house price of $500,000, the market has seen an increase of 3.5% year-over-year. This indicates a steady appreciation in property values, suggesting stable demand for housing in the area.
Similarly, the apartment sector is experiencing growth with a median price of $300,000 and a 2.1% appreciation rate year-over-year. This slower rate compared to houses may reflect a more significant demand for single-family homes or could indicate an emerging opportunity in the apartment market as buyers look for more affordable options.
The population of Brockton stands at 15,000 and has grown by an impressive 7.1%, which is a strong indicator that the area is attracting new residents. This population growth likely contributes to the increasing demand for housing and can be seen as a positive sign for property owners and investors alike.
Investment Opportunities and Potential
The consistent growth in property values coupled with substantial population increases suggest that Brockton holds promising investment opportunities. Investors considering entry into this market can expect potential returns due to the steady rise in house and apartment prices.
Given the stronger growth in house prices, investors might focus on single-family homes as these properties are currently appreciating at a faster rate than apartments. However, with rental markets often thriving in growing communities, investing in apartments could also be strategic for those looking to capitalize on rental income.
Moreover, as the market is not showing signs of overheating but rather consistent growth, it might appeal to both long-term investors focused on capital gains and those interested in generating rental income.
Future Market Outlook
The future outlook for Brockton’s real estate market remains positive. The solid population growth serves as an indication that demand for housing will continue; therefore, the market may maintain its upward trajectory or possibly gain momentum.
While current trends suggest ongoing appreciation in property values, investors should stay informed about local economic developments and infrastructure projects that could further influence real estate dynamics. Additionally, monitoring interest rates and national economic indicators will provide further insight into long-term trends affecting the housing market.
In conclusion, Brockton presents a robust real estate market with healthy growth indicators. Both housing and apartment sectors offer investment opportunities with potential for appreciation and rental income. As always, investors should perform their due diligence and consider local factors when making investment decisions.
