Brownsville, 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 | $450,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $270,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
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 in Brownsville, Ontario
The real estate market in Brownsville, Ontario is experiencing a period of steady growth. With the median house price currently standing at $500,000, the market has seen a respectable year-over-year increase of 3.5%. This indicates a healthy demand for housing and a robust market that has been able to sustain consistent price appreciation.
Similarly, the apartment sector is also showing positive momentum. The median apartment price is now at $300,000, with a year-over-year growth rate of 2.1%. While this growth is slightly more modest compared to houses, it still points to an upward trend in property values across the board.
Driving these trends is Brownsville’s population growth rate of 7.1%, which is significantly higher than many other regions. This influx of new residents is likely contributing to increased demand for housing and creating competition for available properties, thus pushing prices upwards.
Investment Opportunities and Potential
Brownsville’s real estate market presents substantial investment opportunities given its current growth trajectory. The solid growth rates for both houses and apartments suggest that investments in residential properties are likely to benefit from continued appreciation. Moreover, with the population expanding rapidly, there’s an anticipated ongoing demand for rental properties which could provide investors with steady rental income streams as well as long-term capital gains.
For investors looking at entry points into the market, apartments might be particularly attractive due to their lower median price point compared to houses. Given that their price trend is positive yet slower than that of houses, they may offer a more accessible investment option with room for growth.
In addition to direct property investments, there may be potential for development projects catered to accommodating the growing population or renovating existing properties to meet the increasing standards of incoming residents.
Future Market Outlook
The future outlook for Brownsville’s real estate market remains optimistic. Population growth is often a leading indicator of real estate demand, and Brownsville’s significant population increase suggests that the demand for housing will continue to rise. Assuming that economic conditions remain stable and interest rates do not rise significantly enough to deter buyers, we can expect both house and apartment markets to maintain their upward trends in terms of value.
However, prospective investors and homeowners should remain vigilant about national economic indicators and regional developments that could affect Brownsville’s market dynamics. Infrastructure projects, changes in employment rates or major policy shifts could all impact future market conditions.
In summary, based on current data and trends, Brownsville represents an active market with promising prospects for both residential living and investment purposes. Continued monitoring of key statistics such as housing starts, inventory levels, and interest rates will be crucial for those looking to enter or already participating in this market.
