Brisco, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| 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 | $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 | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Brisco, British Columbia, has demonstrated moderate growth over the past year. The median house price currently stands at $525,000, reflecting a year-over-year increase of 4%. This steady rise indicates a healthy demand for single-family homes in the area.
In contrast, the market for apartments is experiencing slightly more modest growth. The median apartment price is $310,000, with a smaller yet positive year-over-year trend of 2.5%. This suggests a stable but slower-growing interest in multi-family dwellings compared to houses.
The local population of Brisco has reached approximately 15,500 residents, showcasing a robust population growth rate of 3.3%. This demographic expansion is likely contributing to the overall demand for housing and can be seen as a supporting factor for the continued health of the real estate market.
Investment Opportunities and Potential
The solid growth trends in Brisco’s real estate market present appealing opportunities for investors. The consistent rise in house prices coupled with sustainable population growth suggests that investments in residential properties could yield favorable returns. Single-family homes are particularly promising due to their higher appreciation rate.
Apartments represent a more accessible entry point for investors given the lower median price point. While the growth rate is more subdued compared to houses, apartments offer potential for rental income streams backed by an expanding local workforce. Investors should also consider the long-term benefits of capital appreciation.
Brisco’s growing population implies an ongoing need for both rental and owner-occupied housing. As such, new construction and development projects may be worthy of consideration for those looking to invest in Brisco’s future housing supply.
Future Market Outlook
The future real estate market outlook for Brisco remains cautiously optimistic. Assuming current economic conditions persist, we can anticipate continued moderate growth in property values due to ongoing demand. The existing trend suggests that both houses and apartments will maintain their upward trajectory, with houses potentially witnessing higher rates of appreciation.
The sustained population increase should serve as a pillar for long-term market stability and growth. However, prospective investors and homeowners must remain vigilant of external economic factors that could affect interest rates, employment stability, and overall affordability which in turn might influence future market dynamics.
In summary, while current indicators point towards a positive outlook, stakeholders should remain informed on both local and broader economic developments when making real estate decisions in Brisco.
