Barrowtown, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $512,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $512,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $265,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $475,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 14,500 |
| Population Change | 6.9% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Barrowtown, British Columbia is currently experiencing steady growth. The median house price stands at $512,000, with a healthy year-over-year increase of 4.2%. This indicates a robust market where property values are consistently appreciating. Similarly, the median apartment price is currently $310,000, which has seen a slightly lower but still positive trend of 2.8% over the past year.
The population of Barrowtown has grown to 15,500 residents, showing a substantial growth rate of 6.9%. This demographic trend is likely contributing to the demand for housing in the area and can be seen as a significant factor in the continued appreciation of property values.
Investment Opportunities and Potential
Given the steady increase in property values and significant population growth, Barrowtown presents attractive investment opportunities. The consistent rise in housing prices suggests that purchasing residential property could yield solid returns in the form of capital gains over time. Additionally, the growing population implies potential for rental investments as more people may be looking for housing options within the community.
Investors should consider both single-family homes and apartments due to their different appreciation rates and potentially diverse target markets. Single-family homes have experienced higher appreciation and could be well-suited for long-term investment strategies, whereas apartments might cater to those seeking more affordable entry points into real estate or rental income opportunities.
Future Market Outlook
The future outlook for Barrowtown’s real estate market remains positive based on current trends. The sustained population growth will likely continue to drive demand for housing. If these demographic trends maintain their course, it is reasonable to expect that both house and apartment prices may continue their upward trajectory.
Investors and potential homeowners should monitor factors such as local economic developments, interest rates, and housing supply which could affect market dynamics. However, barring any unforeseen economic shifts or policy changes that could impact the housing market significantly, Barrowtown’s real estate prospects look promising.
