Blewett, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.9% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.1% |
| 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 | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 15,000 |
| Population Change | 1.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,505.0 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Blewett, British Columbia is currently experiencing a phase of steady growth. The median house price stands at $525,000, which indicates a year-over-year increase of 4%. This consistent rise in house prices reflects healthy demand and a competitive market environment. Similarly, the median apartment price has reached $320,000, with a slightly lower annual growth rate of 2.5%. The housing market is benefitting from the area’s burgeoning population, now at 15,200, which has grown by 1.33% over the past year. These statistics illustrate robust activity and investor confidence in the region.
Investment Opportunities and Potential
The positive trends in Blewett’s real estate market present numerous investment opportunities. Given the steady appreciation in property values, investors can expect continued growth in equity over time. The current increase in house prices outpaces that of apartments, indicating a possibly higher demand for detached homes or a shortage in supply. This could suggest an opportunity for developers and investors to focus on single-family homes or to explore densification strategies with multifamily units if appropriate zoning permits.
Moreover, the ongoing population growth suggests a long-term need for residential housing, making Blewett an attractive market for rental property investments as well. Investors should also consider the potential impact of regional economic developments and infrastructure improvements that may further enhance property values and rental demand.
Future Market Outlook
The future outlook for Blewett’s real estate market remains optimistic. The sustained population growth is expected to continue driving demand for housing across all sectors. If current trends persist, the median house and apartment prices are likely to maintain their upward trajectory, albeit potentially at a more moderate pace as affordability constraints might temper some of the demand pressure.
In light of these factors, prospective buyers and investors should remain cognizant of national economic indicators such as interest rates and employment levels, as these will influence mortgage affordability and consumer confidence. Local developments specific to Blewett should also be monitored closely, as they will play a crucial role in shaping the real estate landscape.
