Balmoral, 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 Balmoral, British Columbia, is currently experiencing steady growth. With a median house price of $500,000 and an upward trend of 3.5% year-over-year, the market reflects healthy demand. Similarly, the median apartment price stands at $300,000, increasing at a slightly lower rate of 2.1% year-over-year. The population in Balmoral has grown to 15,000 residents, marking a significant increase of 7.1%, which suggests that the area is attracting new residents and potentially impacting housing demand positively.
Investment Opportunities and Potential
Given the consistent rise in property values and the robust population growth, Balmoral presents promising investment opportunities for both residential and rental markets. The steady increase in house prices indicates strong capital appreciation potential for investors looking to purchase residential properties. Moreover, as the population continues to grow, rental demand is likely to rise, which could lead to higher rental yields for apartment investors. The current trends suggest that early investments could benefit from further growth as the market matures.
Future Market Outlook
The outlook for Balmoral’s real estate market remains optimistic. Population growth is a key driver of housing demand, and with a significant uptick of 7.1%, it lays a strong foundation for continued expansion of the real estate sector. Assuming that economic conditions remain favorable and that infrastructure development keeps pace with population growth, both house and apartment markets are expected to maintain their positive trajectories. Investors and homeowners in Balmoral can look forward to a resilient market with potential for sustained growth.
