Cloverdale, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $885,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.5% |
Apartment
| Median price | $475,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.9% |
| Stock on market | 0.9% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $750,000 |
| 3 bedrooms | $885,000 |
| 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) | 17,500 |
| Population Change | 2.9% |
| Total Private Dwellings | 7,500 |
| Occupied Private Dwellings | 7,000 |
| Population Density (per km²) | 2.4 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Cloverdale, British Columbia, the real estate market is exhibiting steady growth. The median house price currently stands at $885,000, marking a 2.8% increase year-over-year. This indicates a healthy demand for housing in the area, potentially driven by the region’s appeal and its growing population of approximately 18,000 residents, which has seen a robust growth rate of 2.9%. Meanwhile, apartments are showing a more modest but still positive trend with the median price at $475,000 and experiencing a 1.9% rise over the past year.
Investment Opportunities and Potential
The investment landscape in Cloverdale is promising due to the consistent appreciation in property values. With houses showing a stronger growth rate compared to apartments, investors might find greater long-term capital gains in the detached home segment. However, apartments could represent an attractive entry point for new investors or those seeking rental income properties given their lower median price point and stable growth. The population increase suggests that there will be continued demand for rental properties making it an appealing market segment for real estate investors looking to capitalize on both capital appreciation and rental yield.
Future Market Outlook
The outlook for Cloverdale’s real estate market remains optimistic. The steady population increase coupled with the sustained price growth suggests that demand will continue to support real estate values in the foreseeable future. As Greater Vancouver continues to expand, suburban communities like Cloverdale are likely to benefit from spillover effects as buyers look for more affordable options outside of the city core. Assuming no major economic disruptions occur, Cloverdale’s real estate market is positioned for continued growth which bodes well for both homeowners and investors alike.
