Cassiar, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
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 | $420,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
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 | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Cassiar, British Columbia, the real estate market is experiencing a steady incline in property values, with the median house price currently sitting at $520,000, marking a year-over-year increase of 4%. This uptick in housing prices is reflective of a broader national trend towards a more robust and resilient housing market. Apartments are also witnessing an appreciation in value, albeit at a slower pace, with the median apartment price reaching $310,000 and growing at 2.5% over the same period.
The population of Cassiar has grown to 15,200, with a growth rate of 1.33%. This modest yet consistent demographic expansion suggests increased housing demand which could be fueling the current pricing trends. Additionally, other market indicators such as low unemployment rates and regional economic development projects may be contributing to these conditions.
Investment Opportunities and Potential
The real estate market in Cassiar presents attractive investment opportunities particularly in residential properties. The steady growth in house and apartment prices indicates a healthy demand for real estate investments. For potential investors looking at long-term capital gains, investing in houses could be particularly lucrative given the higher year-over-year price increase compared to apartments. Furthermore, rental properties could offer consistent revenue streams due to the growing population and limited housing supply.
New infrastructure or commercial developments could also provide avenues for investment outside the residential space. Investors should stay informed on local government plans that could impact future property values or generate new business opportunities within the region.
Future Market Outlook
The future real estate market outlook for Cassiar is cautiously optimistic. With a stable population growth rate and consistent increases in property values, it is expected that the market will continue to grow at a similar pace in the short to medium term.
However, investors and homebuyers should be aware of external factors that could affect this outlook such as changes in interest rates, government housing policies, or shifts in the regional economy. Monitoring these factors will be crucial for accurate forecasting and strategy development within the Cassiar real estate market.
In conclusion, the current data suggests that Cassiar remains an appealing area for both real estate investment and homebuying activities. Keeping abreast of local developments and broader economic indicators will be key in navigating this dynamic market.
