Canoe, 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 | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
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 | $475,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 15,000 |
| Population Change | 1.3% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Canoe, British Columbia, the real estate market is experiencing steady growth. With a median house price at $525,000, there has been a year-over-year increase of approximately 4%. This indicates a growing market that is attracting interest from buyers. Similarly, the median apartment price stands at $310,000, which has seen a slightly lower year-over-year increase of 2.5%. This demonstrates a consistent demand for more affordable and smaller-scale housing options.
The population of Canoe is currently around 15,200 residents, with a growth rate of 1.33%. This gradual population increase contributes to the demand for housing, pushing both rental and purchase markets. The data suggests that the real estate market in Canoe is balanced with a healthy level of activity, avoiding the extremes of overheating or stagnation.
Investment Opportunities and Potential
The consistent growth in property values indicates that Canoe is an area with solid investment opportunities. The moderate yet steady increase in the median house and apartment prices suggests that investments in this region are likely to benefit from capital appreciation over time.
With population growth reinforcing the need for additional housing, investors could look towards new construction projects or renovation of older properties to cater to the increasing demand. Given the trends, rental properties could also represent an attractive investment option due to potential for stable rental income streams alongside property value appreciation.
Future Market Outlook
The future market outlook for Canoe, British Columbia appears promising. The consistent rise in house and apartment prices points towards a continued upward trajectory in property valuations. As long as the area maintains its appeal through amenities, lifestyle options, and economic opportunities which contribute to its population growth, the real estate market should remain robust.
However, investors and homebuyers should monitor local developments closely as external factors such as changes in interest rates, economic conditions, or government policies could influence market dynamics. For now though, current trends and data support a cautiously optimistic view for Canoe’s real estate future.
