Bamfield, 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 Bamfield, British Columbia, is currently experiencing a period of moderate growth. With a median house price of $500,000, which indicates a year-over-year increase of 3.5%, the market is showing signs of healthy demand and appreciation. The trend for apartments is also positive with a median price of $300,000 and a growth rate of 2.1% over the past year. This suggests that both segments of the housing market are steadily increasing in value.
Furthermore, the local population has seen significant growth, with an increase of 7.1%, taking the total to approximately 15,000 residents. This demographic change is likely contributing to the increased demand for housing in the area and may be an indicator of sustained future growth.
Investment Opportunities and Potential
Bamfield’s real estate market offers promising investment opportunities for both residential properties and rental units. The consistent rise in property values coupled with the growing population provides a fertile ground for real estate investments to flourish. Investors could potentially benefit from capital gains in the medium to long term based on current trends in house and apartment prices.
Rental properties also present an attractive opportunity as the influx of residents may lead to higher demand for rental accommodations. As such, purchasing apartments or houses to rent out could yield profitable returns through rental income combined with property value appreciation over time.
Future Market Outlook
The future outlook for Bamfield’s real estate market appears optimistic given the current trends and underlying demographic shifts. Assuming that economic conditions remain stable and no major policy changes are introduced to disrupt the market dynamics, it is reasonable to expect continued growth in property values.
The ongoing population increase should help sustain demand for housing and may even accelerate if new amenities, job opportunities or infrastructure developments come into fruition within the region. Consequently, this could potentially lead to an upward pressure on both housing prices and rental rates.
In conclusion, careful monitoring of economic indicators and demographic trends will be essential for stakeholders in Bamfield’s real estate market to make informed decisions and capitalize on investment opportunities as they arise.
