Aldergrove, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Aldergrove, British Columbia, currently reflects a steady growth in property values. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This trend indicates a stable and gradually appreciating housing market, which is considered healthy for both buyers and sellers. In comparison, the median apartment price is $300,000 with a slightly slower growth rate of 2.1% over the past year. The relatively modest increase in apartment prices could be attributed to a balanced supply and demand in the condominium sector.
The population of Aldergrove has experienced significant growth at 7.1%, which is likely fueling the housing demand and contributing to the positive trend in property values. An expanding population often leads to increased demand for housing, both owned and rented, which can stimulate the local real estate market further.
Investment Opportunities and Potential
Given the current market trends and demographics, Aldergrove presents several attractive investment opportunities. The steady appreciation of house prices may offer potential for long-term capital gains for investors looking to purchase residential properties. Additionally, with a growing population and sustained demand for housing, rental properties can also provide a consistent income stream.
The slower growth rate in apartment prices compared to houses suggests there may be room for investment in this sector as well. Prospective investors could consider acquiring apartments to cater to segments of the population seeking more affordable or smaller-scale living spaces. Given that population growth remains robust, it is reasonable to expect that demand for apartments will continue, potentially leading to higher occupancy rates and rental yields.
Future Market Outlook
The future outlook for Aldergrove’s real estate market appears cautiously optimistic. If the current trends continue, one could expect further gradual appreciation in property values due to the ongoing population growth and corresponding demand for housing. However, investors should remain attentive to broader economic factors that may influence interest rates, employment levels, and overall affordability—elements that can affect buyer sentiment and activity.
It’s also worth noting that as more people move into the area seeking affordable housing options outside of larger urban centers like Vancouver, there could be an opportunity for Aldergrove’s real estate market to outpace some of its regional counterparts if it continues offering value combined with quality living conditions.
In conclusion, while no market is without risk, Aldergrove presents itself as a community with sound fundamentals for real estate investment grounded in steady growth and demographic expansion.
