Cherryville, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.6% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.5% |
| 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 | $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 | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Cherryville, British Columbia, currently presents a stable growth trajectory. The median house price in the area is $525,000, with a healthy year-over-year increase of 2.8%. This indicates a consistent demand for housing and a competitive market environment. Similarly, apartments in Cherryville are experiencing growth, with the median apartment price sitting at $320,000, reflecting a 1.5% increase over the past year.
The population of Cherryville has reached approximately 15,500 residents and has shown a robust growth rate of 3.3%. This demographic expansion can be attributed to Cherryville’s growing economy and lifestyle appeal, which in turn fuels the housing demand. Current trends suggest that real estate in Cherryville is maintaining a steady appreciation pace, making it an attractive market for homeowners and investors alike.
Investment Opportunities and Potential
The investment landscape in Cherryville presents promising opportunities, particularly given the continuous population growth. The positive trend in house prices suggests that investments in residential properties are likely to benefit from capital gains over time. With median prices for houses and apartments on the rise, albeit at modest rates of 2.8% and 1.5% respectively, investors can expect a favorable return on investment from both rental income and property value appreciation.
The sustained demand for housing should also encourage developers and investors to consider new construction projects or renovations of existing properties. As Cherryville’s population grows, there will be an increased need for diverse types of housing to accommodate different segments of the market, including singles, families, and retirees.
Future Market Outlook
The future outlook for Cherryville’s real estate market remains optimistic. Given the steady population increase of 3.3%, the demand for housing is expected to maintain its upward trend. If economic conditions remain stable and interest rates moderate, this could lead to continued growth in real estate values and investment returns.
It is essential for investors to monitor potential shifts in market dynamics, such as changes in local employment rates or national economic policies that could impact consumer purchasing power. Nonetheless, based on current data and trends, Cherryville’s real estate market appears poised for ongoing positive performance with sustainable growth potential over the coming years.
