Cloverdale, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $950,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $450,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $800,000 |
| 3 bedrooms | $950,000 |
| 4 bedrooms | $1,100,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $400,000 |
| 2 bedrooms | $475,000 |
| 3 bedrooms | $550,000 |
Demographics
| Current Population (2025) | 18,000 |
| Previous Population (2020) | 17,000 |
| Population Change | 5.9% |
| Total Private Dwellings | 7,000 |
| Occupied Private Dwellings | 6,500 |
| Population Density (per km²) | 1.8 |
| Land Area (km²) | 3,000.0 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Cloverdale, British Columbia, is currently experiencing a stable increase in property values. With the median house price sitting at $950,000 and demonstrating a 4% year-over-year growth, the market is showing healthy appreciation. Similarly, the median apartment price of $450,000 with a 2.5% year-over-year trend indicates a consistent upward trajectory for smaller residential options. These statistics illustrate a competitive market environment where properties are steadily increasing in value.
The population of Cloverdale is approximately 18,000 residents and has seen a notable increase of 5.9%, suggesting that the demand for housing may continue to rise due to the growing community. This influx can potentially drive housing prices upward as more people vie for available properties in this desirable locale.
Investment Opportunities and Potential
Investors considering Cloverdale for real estate opportunities can find potential in both the single-family home sector and the apartment market. The steady growth in property values across both segments indicates that investments may benefit from capital gains over time. Additionally, the burgeoning population suggests that rental properties could be in high demand, offering investors potential for solid rental income streams alongside property value appreciation.
Given Cloverdale’s positioning within the Greater Vancouver area, its relative affordability compared to downtown markets makes it an attractive option for those looking to invest in a less saturated yet promising market. Investors should also consider the diverse economic base and proximity to larger city centers as factors that may contribute to long-term investment stability and growth.
Future Market Outlook
The outlook for Cloverdale’s real estate market remains optimistic. The sustained growth in house and apartment prices reflects a market that is not currently overheated but maintains a steady pace of growth. Assuming similar economic conditions prevail, we can anticipate continued moderate appreciation of property values.
The impressive population growth rate implies that there will likely be ongoing demand for housing, which could further bolster real estate prices and investment returns. However, prospective buyers and investors should remain vigilant regarding broader economic indicators and regional development plans that might influence future market dynamics.
In conclusion, Cloverdale presents as a sound choice for those looking to enter or expand their portfolio within the British Columbia real estate market, characterized by consistent growth and demographic trends signaling long-term vitality.
