Blackpool, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $310,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $640,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $480,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Blackpool, British Columbia, is presently experiencing a period of steady growth. The median house price in the region is currently at $520,000, which signifies a year-over-year increase of 4.2%. This trend reflects a healthy demand for housing in the area, possibly driven by the positive population growth rate of 3.3%, which has brought the population to approximately 15,500.
Apartments in Blackpool have also seen a positive trend with a slightly lower growth rate. The median apartment price is currently $310,000, following a year-over-year increase of 2.5%. This suggests that while there is an interest in more affordable and possibly smaller living spaces, it is not as pronounced as the demand for houses.
Investment Opportunities and Potential
The favorable market conditions indicate promising investment opportunities in Blackpool’s real estate sector. Investors might find the residential market particularly attractive due to the steady appreciation in property values. While houses show a stronger appreciation trend, apartments offer a lower entry point for investment and appeal to a different segment of the market, such as young professionals or small families.
The ongoing population growth suggests that there will be sustained demand for housing. As such, rental properties could provide investors with consistent income streams, taking advantage of the influx of new residents who may be looking for short-term or long-term rentals.
Future Market Outlook
The future outlook for Blackpool’s real estate market remains optimistic given current trends and demographic data. With population numbers on the rise and housing prices showing steady increases, there is potential for continued growth in property values over the coming years.
However, investors should also consider economic factors such as employment rates, local industry performance, and interest rates which could impact buyer purchasing power and thus influence market trends. It would be prudent for stakeholders to stay informed on these aspects to make well-educated decisions regarding their investments in Blackpool’s real estate.
