Burgessville, 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 Burgessville real estate market is currently experiencing steady growth. With a median house price of $500,000 and an annual appreciation rate of 3.5%, the market is showing healthy upward momentum. Similarly, the median apartment price stands at $300,000, having increased by 2.1% over the past year. These trends are indicative of a balanced market that is attractive to both buyers and sellers.
The population of Burgessville has grown by 7.1%, suggesting a growing demand for housing in the area. This increase in population can be attributed to factors such as employment opportunities, quality of life, and the town’s proximity to larger urban centers. The concurrent rise in property values suggests that the housing supply is adjusting to this increased demand at a measured pace.
Investment Opportunities and Potential
Burgessville presents several promising investment opportunities, particularly in residential real estate. Investors can capitalize on the steady growth in property values, with single-family homes experiencing a higher appreciation rate compared to apartments. The strong population growth also implies potential for rental properties due to an increasing need for housing.
Furthermore, given the town’s expanding population and limited housing inventory, there may be opportunities for new development projects. Investors could explore building new residential units or renovating existing ones to cater to the diverse needs of the community.
Future Market Outlook
The outlook for Burgessville’s real estate market remains optimistic. Given the current growth trends and positive economic indicators, we anticipate that property values will continue to rise at a sustainable rate. The consistent increase in population is likely to maintain demand for housing, supporting both resale values and rental rates.
However, investors and homebuyers should keep an eye on local economic developments and any changes in national policies that could influence mortgage rates or property taxes. Observing these factors will be crucial for making informed decisions about entering or exiting the Burgessville real estate market.
