Burwash, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $510,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 3.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $305,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $510,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,000 |
| Population Change | 5.0% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Burwash, Ontario, is currently experiencing steady growth. The median house price in the area stands at $510,000, which marks a year-over-year increase of 3%. This growth suggests a healthy demand for single-family homes in the region. Similarly, apartments are also seeing a positive trend with the median price at $305,000 and an annual growth rate of 1.5%. The population of Burwash has grown by 5% to 15,200 residents, indicating an expanding community that may continue to drive demand for housing.
Investment Opportunities and Potential
Given the steady rise in property values and the population increase, Burwash presents several attractive investment opportunities. The consistent growth in house prices reflects a stable market with potential for long-term capital gains. Apartments showing a more modest price appreciation suggest an opportunity for investors to enter the market at a more accessible price point while still benefiting from property value increases.
In addition to residential properties, this population growth may create demand for rental properties as well as commercial real estate development to service the growing community. Investors considering entering the Burwash market would be wise to focus on areas poised for further development or those that will benefit from infrastructural improvements.
Future Market Outlook
The future outlook of Burwash’s real estate market appears promising. The continuous population growth serves as a key indicator of potential increased housing demand. If current trends hold steady, both housing and apartment markets are expected to see sustained appreciation. However, investors should keep an eye on economic factors such as employment rates and new construction developments which could influence supply and demand dynamics.
Moreover, with housing prices rising at a moderate pace compared to some overheated markets, Burwash remains an attractive location for both first-time homebuyers and experienced investors looking for sustainable growth without the volatility seen in larger urban centers.
