Aberdeen, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.9% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $475,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| 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 is currently exhibiting steady growth. The median house price stands at $525,000, with a year-over-year increase of 4%. This indicates a healthy demand for detached homes in the area. In contrast, the median apartment price is $315,000, showing a more modest growth rate of 2.5% year-over-year. This disparity suggests that single-family homes are in higher demand relative to apartments, possibly due to demographic preferences or the perceived value of owning land.
The local population has reached approximately 15,500 residents, growing at a rate of 3.3%. This growth is likely driving the housing demand upwards, contributing to the positive trend in property values. Moreover, such demographic developments could be influencing the rental market as well, with an influx of newcomers seeking both temporary and long-term accommodation.
Investment Opportunities and Potential
In light of the consistent population growth and increasing property values, Aberdeen offers promising investment opportunities in residential real estate. Investors may find particular potential in single-family dwellings given their stronger appreciation rates. Long-term investments could capitalize on the continuous upward trend in house prices.
Apartments present a lower entry point for investment at a median price of $315,000 and may appeal to those looking for rental income properties. With the population increase, rental demand is expected to rise, potentially offering higher occupancy rates and steady cash flow for investors targeting this segment.
Moreover, new developments and infrastructural improvements may provide additional investment opportunities. Prospective investors should actively monitor zoning changes and planned projects within Aberdeen that could affect property values.
Future Market Outlook
The future real estate market outlook for Aberdeen remains optimistic based on current trends and demographics. The continued population growth at 3.3% will likely sustain the demand for housing. If economic conditions remain favorable, both median house and apartment prices may continue to see incremental growth.
However, investors should remain aware of external factors such as interest rate fluctuations, changes in regional employment rates, or provincial housing regulations that could impact market dynamics. As with any investment involving real estate, due diligence and awareness of local market nuances are critical for making informed decisions.
To conclude, Aberdeen represents a stable market with potential for both short-term gains through property flipping and long-term wealth accumulation through buy-and-hold strategies. The key to capitalizing on these opportunities will be a combination of strategic investment choices aligned with ongoing monitoring of market conditions.
