Coombs, 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 Coombs, British Columbia, is currently experiencing steady growth as reflected by the year-over-year increase in property values. The median house price stands at $500,000, marking a 3.5% increase compared to the previous year. This indicates a healthy demand for single-family homes in the area. Similarly, the apartment market is showing a positive trend with a 2.1% rise in the median price to $300,000 over the same period.
The population of Coombs has reached approximately 15,000 residents, with an impressive growth rate of 7.1%. This demographic expansion contributes to a robust housing demand, which is likely to sustain the upward pressure on real estate prices. A growing population often correlates with increased economic activity and infrastructure development, which can further stimulate the local real estate market.
2. Investment Opportunities and Potential
Given the current growth trajectory in property values and population increase, Coombs presents promising investment opportunities for both residential and rental markets. For investors looking at long-term capital gains, purchasing single-family homes could be particularly beneficial due to their higher appreciation rate of 3.5% year-over-year.
The rental market also offers potential due to the inflow of new residents who may initially seek rental accommodations before purchasing properties. With apartments appreciating at 2.1% annually, investors can expect steady rental income growth alongside modest capital appreciation.
Additionally, the continuous population growth suggests that there may be opportunities for new development projects or renovations that cater to the changing needs of the community. Investors with an eye for such developments could capitalize on this expanding market.
3. Future Market Outlook
The future outlook for Coombs’s real estate market appears optimistic based on current trends and underlying demographics. Continued population growth is likely to drive sustained demand for housing in both purchase and rental segments.
If these trends persist—particularly if the area’s economy diversifies and strengthens further—we can reasonably anticipate ongoing appreciation in property values. The median house price could continue to see above-average growth rates given the demand for larger living spaces possibly driven by remote work trends and lifestyle changes post-pandemic.
However, it is important for investors to monitor local and global economic factors that could impact interest rates and borrowing costs since these will influence buyer affordability and potentially affect market momentum.
In conclusion, Coombs’s real estate market holds considerable promise for both short-term gains through rental income as well as long-term capital appreciation due to its positive trends in population growth and housing demand.
