Chopaka, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $310,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| 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) | 15,200 |
| Previous Population (2020) | 15,000 |
| Population Change | 1.3% |
| 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 Chopaka, British Columbia, currently exhibits stable growth characteristics. The median house price stands at $525,000 with a year-over-year increase of 4.2%. This indicates a healthy demand for housing and a robust market that has been outpacing inflation. On the other hand, the median apartment price is observed at $310,000 with a more modest annual appreciation of 1.9%. This difference in growth rates between houses and apartments may suggest a greater demand for single-family homes in this region.
Investment Opportunities and Potential
Considering the current market trends, investment opportunities in Chopaka are promising, particularly in the single-family home sector. The higher growth rate for houses suggests that demand is strong in this segment, which could lead to higher capital gains for investors over time. Additionally, with the population growing at a rate of 1.33%, there is an influx of potential renters or buyers that could sustain this demand. Investors should also note the lower growth rate for apartments which might indicate a slower but steady potential for rental income, especially if targeted towards demographics less likely to purchase property such as young professionals or smaller households.
Future Market Outlook
The future market outlook for Chopaka’s real estate remains optimistic based on current trends and population growth rates. As the population increases, so does the need for housing, which could further drive up property values over time. Moreover, if the local economy continues to support this population growth with job creation and infrastructure development, the region could see sustained or even increased rates of real estate appreciation. Investors should monitor local economic indicators and development plans to capitalize on emerging opportunities that accompany population growth and urban expansion.
