Aberdeen, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $590,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.2% |
| Stock on market | 0.9% |
Apartment
| Median price | $350,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.8% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $500,000 |
| 3 bedrooms | $590,000 |
| 4 bedrooms | $700,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $300,000 |
| 2 bedrooms | $375,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| 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 Aberdeen, British Columbia currently exhibits stable growth, with the median house price standing at $590,000, reflecting a year-over-year increase of 4.2%. This uptick in housing prices indicates healthy demand and a robust market environment. The apartment sector is also experiencing growth, albeit at a more moderate pace, with the median apartment price reaching $350,000 and a 1.8% year-over-year increase.
The population of Aberdeen has been on the rise with a growth rate of 3.3%, leading to increased demand for housing. This demographic trend is a key driver behind the steady appreciation of property values in the area.
Investment Opportunities and Potential
In light of the current market trends, Aberdeen presents appealing investment opportunities, particularly in residential properties. The steady climb in house prices suggests that purchasing property now could yield considerable returns for investors as the market continues to grow. With an expanding population and corresponding housing demand, rental properties also offer potential for consistent income streams and long-term capital gains.
The slower growth rate in apartment prices may suggest an opening for investors to enter the market at a more accessible price point while still benefiting from gradual appreciation. Additionally, new developments catering to the increasing population can be seen as an opportunity for both developers and investors seeking to capitalize on the emerging needs of the community.
Future Market Outlook
The future outlook for Aberdeen’s real estate market remains positive due to ongoing population growth and economic stability. Assuming these trends persist, we can anticipate continued demand for housing, which may lead to further price increases across both houses and apartments. Investors should monitor local economic indicators, development plans, and infrastructure improvements which could bolster market growth even further.
Careful consideration of interest rate fluctuations and national economic policies is also necessary when forecasting future market conditions as they can significantly impact mortgage rates and investment returns.
In conclusion, Aberdeen’s real estate market shows promising signs for both short-term gains and long-term investment strategies. With diligent research and strategic planning, investors can take advantage of this growing market’s potential.
