Altona, 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 Altona, British Columbia is currently characterized by steady growth. With a median house price of $500,000 and an appreciable year-over-year increase of 3.5%, the market is demonstrating healthy and stable conditions. Similarly, the apartment sector shows a positive trend with a median price of $300,000 and a more modest annual growth rate of 2.1%. This suggests a balanced expansion across different housing types.
The population of Altona has reached 15,000 and is growing at a robust rate of 7.1%. This significant population growth is indicative of an increasing demand for housing in the region. The consistent appreciation in property values combined with burgeoning demographic trends suggests that Altona’s real estate market is thriving.
Investment Opportunities and Potential
In light of the current market dynamics, Altona offers promising investment opportunities. The steady increase in property values indicates that investors could potentially benefit from capital gains over time. The stronger growth in house prices compared to apartments may appeal to investors looking for higher value assets with a likelihood of substantial long-term appreciation.
Moreover, given the rapid population growth, there is potential for rental investments as incoming residents may seek rental accommodations before committing to homeownership. Investors could capitalize on this demand by investing in rental properties or developing multi-unit residential complexes.
Future Market Outlook
The future outlook for Altona’s real estate market appears positive. If current trends continue, investors and homeowners can expect ongoing increments in property values. The persistent population growth will likely sustain demand for housing, thus supporting the market’s upward trajectory.
However, it is essential to monitor economic factors such as employment rates, interest rates, and regional development initiatives, as these could influence future market conditions. Should Altona continue to attract new residents through job creation or lifestyle amenities, it will further cement its status as an attractive location for real estate investment and development.
