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
In Balmoral, British Columbia, the real estate market is currently experiencing a period of steady growth. The median house price stands at $500,000, with an upward trend of 3.5% year-over-year, indicating a consistently appreciating market. Similarly, the median price for apartments is $300,000, following a slightly more moderate increase of 2.1% year-over-year. This growth can be partly attributed to Balmoral’s strengthening economy and its appealing lifestyle offerings.
The population of Balmoral has reached approximately 15,000 residents and has been growing at a robust rate of 7.1%. This substantial population growth suggests an increasing demand for housing which could put upward pressure on property values and rental rates in the near future.
Investment Opportunities and Potential
The current trajectory of the Balmoral real estate market presents attractive investment opportunities. The consistent appreciation in home values reflects a healthy market with potential for capital gains over the long term. Investors looking to purchase rental properties may find that the strong population growth correlates with rising rental demand, potentially leading to higher occupancy rates and rental yields.
Moreover, as apartment prices are growing at a slightly slower pace than houses, there may be opportunities for investors to enter the market at a lower price point while still participating in the overall market appreciation. This could be particularly appealing for first-time investors or those looking to diversify their portfolio.
Future Market Outlook
The future outlook for Balmoral’s real estate market remains positive. Continued population growth is expected to drive demand for housing further. If historical trends persist, we can anticipate ongoing increases in both house and apartment prices, though external economic factors could affect this trajectory.
An important consideration for future market performance will be the balance between supply and demand. Should new construction fail to keep pace with population growth or if Balmoral becomes an even more desirable location due to local developments or economic factors, we could see greater upward pressure on prices. Conversely, an oversupply of new housing or economic downturns could temper growth rates.
In conclusion, while current conditions are favorable and prospects seem promising for Balmoral’s real estate market, investors should remain attentive to local and national economic indicators when making investment decisions.
