Burford, 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 | $425,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 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
In Burford, Ontario, the real estate market is currently experiencing a period of moderate growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This suggests a healthy demand for homes in the area, with prices rising steadily but not excessively. Similarly, the market for apartments is also growing, albeit at a slightly slower pace, with the median apartment price at $300,000 and an annual appreciation rate of 2.1%.
The population of Burford has seen a considerable growth of 7.1%, indicating a burgeoning community that could be driving the demand for housing. This influx of residents may be due to economic opportunities in the area or the town’s appeal to those seeking a more suburban lifestyle.
Investment Opportunities and Potential
The steady growth in property values coupled with significant population increases suggests that Burford holds promising investment opportunities. Given the current trends, investors could expect continued appreciation in property values, which can translate into profitable returns over time.
The more modest increase in apartment prices also presents an opportunity for investors looking to enter the market at a lower price point while still benefiting from potential capital gains and rental income. As the population grows and demand for diverse housing options increases, investing in multi-unit residential properties might also be an attractive strategy.
Future Market Outlook
The future real estate market outlook for Burford appears positive. Considering the sustained population growth and consistent property value appreciation rates, we can reasonably anticipate ongoing demand for housing in both the private home and apartment sectors.
If current economic conditions remain stable and the area continues to attract new residents due to its amenities and quality of life, it is likely that Burford’s real estate market will continue to see growth. However, potential investors should monitor local economic indicators and development plans as these factors could significantly influence future market conditions.
