Corbin, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 14,500 |
| Population Change | 6.9% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Corbin, British Columbia is currently experiencing steady growth. With a median house price of $525,000 and an annual price increase of 4%, the housing sector demonstrates a robust upward trend. Apartments are also seeing a healthy upswing with a median price of $315,000 and a 2.5% year-over-year growth. These statistics signify a strong seller’s market where demand for housing outstrips supply.
The population of Corbin has grown by 6.9%, which is significantly higher than the national average. This population surge is fueling the demand for housing, as more people seek to move into the area, attracted by job opportunities, lifestyle, or other factors.
Investment Opportunities and Potential
The positive trend in property value growth coupled with the increasing population suggests that Corbin presents lucrative investment opportunities. Investors may find potential in both the housing and apartment markets due to consistent appreciation rates. Long-term investments could benefit from the sustained demand, especially if current trends persist.
New developments and infrastructure projects could further enhance property values and attract new residents to Corbin. Investors should consider these dynamics when exploring real estate opportunities in this market.
Future Market Outlook
The future market outlook for Corbin remains optimistic given the ongoing population growth and steady rise in property prices. If these trends continue, we can expect further increases in property values and rental demand. However, investors should also be wary of economic shifts that could affect employment rates or local industry health, which in turn could impact the real estate market dynamics.
In summary, Corbin’s real estate market shows positive signs for both immediate investment and long-term growth potential. While current trends suggest a favorable outlook, it is important for investors to stay informed on local economic developments that may influence future market conditions.
