Burgoyne, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
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 | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Burgoyne, Ontario, the real estate market is currently experiencing a stable growth pattern. With a median house price of $520,000 and an upward trend of 4% year-over-year, the market shows healthy appreciation. Similarly, the median apartment price is set at $310,000 with a positive trend of 2.5% year-over-year. These steady increments in property values suggest a robust market that has been resilient to fluctuations.
The population of Burgoyne is 15,200 and has been growing at an annual rate of 2.7%. This demographic expansion is contributing to the demand for housing in the area, thereby supporting the continued appreciation in property values. The consistent growth in population indicates a strong local economy and could be a signifier of enduring demand for real estate.
Investment Opportunities and Potential
With a steadily growing population and consistent appreciation in property values, Burgoyne presents attractive investment opportunities. The current trends indicate that investing in residential properties could yield promising returns due to the 4% annual increase in house prices and 2.5% increase in apartment prices.
Investors may consider purchasing rental properties as there is likely to be sustained demand due to population growth. Moreover, investing in apartments could be particularly appealing given their lower entry price point and strong growth potential. As more individuals move into the area for job opportunities or lifestyle choices, demand for various types of housing, including apartments, townhouses, and detached homes will likely remain high.
Future Market Outlook
The future market outlook for Burgoyne’s real estate appears optimistic. Assuming that current economic conditions persist and with the ongoing population growth of 2.7%, demand for housing should remain strong. This will likely continue to drive property values upwards.
If the regional economy continues to thrive and attract new residents at a stable or increasing rate, investors can expect a continued appreciation of real estate assets in Burgoyne. However, potential investors should also consider economic diversification within the region and monitor any changes in local industry developments or government policies that could impact long-term growth trends.
In conclusion, Burgoyne’s real estate market holds potential for both short-term gains through property value appreciation and long-term investment through rental income. Careful analysis of local developments and continued monitoring of economic indicators will be crucial for real estate decision-making moving forward.
