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
1. Current Market Conditions and Trends
The real estate market in Comox, British Columbia is experiencing steady growth, with the median house price currently standing at $500,000, reflecting a year-over-year increase of 3.5%. This increment indicates a stable demand for housing in the area. In contrast, the median apartment price is set at $300,000, showcasing a slightly slower growth trend of 2.1% year-over-year. This suggests that while the housing market remains strong, the apartment sector is growing at a more moderate pace.
With a population of 15,000 and an impressive population growth rate of 7.1%, Comox is becoming an increasingly attractive location for residents. The influx of new inhabitants contributes to sustained demand in the housing market, potentially leading to further growth in property values over time.
2. Investment Opportunities and Potential
Investment opportunities in Comox appear promising due to the stable growth in property values and significant population increase. The consistent rise in house prices indicates a robust market where investment in residential properties could lead to favorable returns. However, investors should also consider the slower growth rate in apartment prices when making decisions.
Given the current trends and demographic expansion, rental properties may offer substantial potential. With more people moving to Comox, there is likely to be an uptick in demand for rental accommodations, which can offer investors steady income streams and possible capital appreciation over time.
3. Future Market Outlook
The future outlook for the Comox real estate market looks positive. The ongoing population growth coupled with rising house prices suggests that demand for housing will continue to be robust. If these trends persist, Comox could witness an enduring upward trajectory in both property values and investment appeal.
However, it is essential for investors to monitor local economic factors and development plans that could impact the real estate market’s dynamics. Considering factors such as interest rates, employment rates, and regional economic policies will also be crucial for making informed investment decisions going forward.
