Flamborough, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $950,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $450,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $750,000 |
| 3 bedrooms | $950,000 |
| 4 bedrooms | $1,000,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $400,000 |
| 2 bedrooms | $450,000 |
| 3 bedrooms | $500,000 |
Demographics
| Current Population (2024) | 16,000 |
| Previous Population (2019) | 15,500 |
| Population Change | 3.2% |
| Total Private Dwellings | 6,500 |
| Occupied Private Dwellings | 6,000 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Flamborough, Ontario, is currently experiencing steady growth. With a median house price of $950,000, the market has seen a 4% increase year-over-year. This suggests a stable demand for single-family homes in the area. The apartment market is also growing, albeit at a slightly slower pace, with the median apartment price at $450,000 and witnessing a 2.5% increase year-over-year.
Flamborough’s population of 16,000 has been growing at a rate of 3.2%, which is likely contributing to the continued demand for housing. The combination of population growth and rising property values indicates a healthy real estate market with potential for further expansion.
Investment Opportunities and Potential
Investors considering Flamborough will find attractive opportunities in both the residential housing and apartment sectors. The consistent upward trend in house prices suggests that investing in single-family homes could yield solid returns as equity builds over time. For those looking for a lower entry point or diversification, the apartment market offers potential as well, especially given the continuous population growth which may drive rental demand.
The current trends demonstrate that Flamborough’s real estate market is receptive to both long-term rental strategies and buy-and-hold investment approaches. Developments that meet the needs of the expanding population—such as family-friendly neighborhoods or multi-unit residential buildings—could be particularly promising.
Future Market Outlook
The future outlook for Flamborough’s real estate market appears positive. Assuming that current trends continue, property values are expected to keep rising steadily. Factors underpinning this outlook include ongoing population growth and limited housing supply pressures which are common in many Canadian markets.
In addition to demographic drivers, Flamborough’s proximity to larger urban centers like Hamilton could enhance its appeal as a commuter town, potentially increasing demand for local real estate even further. However, investors should also monitor broader economic conditions and interest rate trends as these can affect affordability and borrowing costs which in turn influence the real estate market.
