Blackpool, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $625,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Blackpool, British Columbia is experiencing a period of steady growth. With a median house price of $525,000, the market has seen a year-over-year increase of 4%. This consistent uptick in housing prices points to a healthy demand for residential properties. Similarly, the median apartment price is currently $320,000, reflecting a year-over-year growth of 2.5%. The moderate growth in apartment prices suggests a balanced market that is accessible to a broader range of buyers and investors.
Investment Opportunities and Potential
Blackpool’s real estate market presents attractive investment opportunities for both residential buyers and investors. The steady rise in property values coupled with the town’s population growth rate of 3.3% indicates a potential for continued appreciation in real estate investments. Rental properties are likely to be in high demand as the population increases, offering investors an opportunity for stable rental income along with long-term capital gains. Given the current trends, investing in both houses and apartments can be advantageous; however, houses show a slightly higher appreciation rate, which might appeal to those looking for more significant asset growth over time.
Future Market Outlook
Looking ahead, the future market outlook for Blackpool remains optimistic. The ongoing population growth rate of 3.3%, which outpaces many other regions, will continue to fuel housing demand. In combination with the region’s economic development initiatives, there is an expectation of sustained growth in property values and investment returns. However, it is important for investors to monitor local economic factors and interest rate trends, as these could affect affordability and borrowing costs, subsequently influencing the pace of growth in the real estate market.
