Comox, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Comox, British Columbia, is currently experiencing steady growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This indicates a healthy upward trend in property values, reflecting a growing demand for residential homes in the area. Similarly, the median apartment price has seen a rise to $300,000, which marks a slower yet consistent appreciation with a 2.1% year-over-year growth.
The town’s population has reached approximately 15,000 residents, showing a significant growth rate of 7.1%. This demographic expansion is contributing to the increased demand for housing and supporting the current trend of rising property values. The real estate market is also influenced by factors such as low interest rates and an influx of buyers seeking lifestyle changes post-pandemic, which include moving to smaller communities like Comox that offer natural amenities and a higher quality of life.
Investment Opportunities and Potential
In light of the market data, Comox presents several attractive investment opportunities. The continuous increase in property values suggests that purchasing residential real estate could yield substantial long-term gains. Investors should consider both houses and apartments, as both sectors are showing positive growth trajectories.
The rising population and its growth rate indicate that there will be ongoing demand for rental properties, making buy-to-rent investments particularly appealing. With the median prices still accessible compared to larger urban centers, investors have the chance to enter the market at a lower point, potentially reaping greater rewards as the market escalates.
The local economy is diversifying and strengthening thanks to regional development initiatives that are likely to attract more businesses and residents to the area. Investments geared towards new construction and development projects may also be promising given the population influx and limited housing supply.
Future Market Outlook
The future outlook for Comox’s real estate market remains optimistic. Population growth is projected to continue, fueling demand for housing and supporting property value appreciation. If current trends persist, investors can expect ongoing increases in median house and apartment prices.
The town’s strategic location on Vancouver Island, coupled with its natural beauty, adds intrinsic value to its real estate market that is not easily replicated elsewhere. As such, Comox is well-positioned to attract retirees, remote workers, and those seeking a balanced lifestyle close to outdoor recreation opportunities.
However, potential investors must also stay informed about local government policies on development and housing supply management that might affect future market dynamics. Overall, staying abreast of economic factors influencing British Columbia’s broader property market will be crucial for making informed investment choices in Comox’s promising but fluctuating real estate landscape.
