Brucefield, Ontario Real Estate Market Data
Updated: Nov 2024
House
Median price | $525,000 |
Monthly growth | 1.1% |
Quarterly trend | 4.0% |
Stock on market | 0.6% |
Apartment
Median price | $310,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.5% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $450,000 |
3 bedrooms | $525,000 |
4 bedrooms | $650,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $260,000 |
2 bedrooms | $360,000 |
3 bedrooms | $460,000 |
Demographics
Current Population (2025) | 15,500 |
Previous Population (2020) | 15,000 |
Population Change | 3.3% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,700 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Brucefield, Ontario, is currently experiencing steady growth. With a median house price of $525,000 and a year-over-year increase of 4%, the market is showing signs of healthy appreciation. Similarly, apartments are becoming more valuable, with the median price reaching $310,000 and growing at a slightly slower pace of 2.5% year-over-year. This indicates a consistent demand for housing in the area.
The population in Brucefield has recently seen a significant rise, growing at 3.3%, which may be contributing to the increased demand for housing and the corresponding upward pressure on property prices. The current trends suggest that the market is attracting both homeowners looking to reside in the area and investors seeking to capitalize on the growing demand.
2. Investment Opportunities and Potential
Given the steady price appreciation in both houses and apartments, Brucefield represents a promising opportunity for real estate investors. The consistent population growth implies that rental properties may be in high demand, offering potential for solid rental yields over time.
For those looking to invest in residential properties, the current trends suggest that purchasing single-family homes could yield favorable returns due to the higher appreciation rate compared to apartments. However, investing in apartments could offer a lower barrier to entry with a still respectable growth rate in value.
The local economy and demographic trends should be closely monitored by investors as they can significantly impact long-term investment outcomes. The positive population growth trend is an encouraging sign for future rental market stability.
3. Future Market Outlook
The future outlook for Brucefield’s real estate market appears optimistic. Assuming the continuation of current economic conditions and population trends, property values are likely to maintain their upward trajectory. The sustained 3.3% population growth rate signals ongoing demand which should support both home values and rental rates.
However, potential investors and homebuyers should stay informed about local developments that could affect the market, such as changes in employment rates, new housing developments, or shifts in interest rates which could influence buyer affordability.
In conclusion, Brucefield’s real estate market exhibits stable growth with positive indicators for future performance. Stakeholders are encouraged to keep abreast of local and national economic shifts that could impact these projections.