Corbin, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
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 | $480,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| 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, demonstrates steady growth with the median house price currently sitting at $525,000, marking a 4.2% year-over-year increase. This uptick indicates a healthy demand for housing in the area. The market for apartments is also showing positive momentum, albeit at a slightly lower growth rate, with the median apartment price rising to $320,000, reflecting a 2.5% increase over the same period. The current trends suggest that Corbin’s real estate market is robust, supported by both property value appreciation and a growing population that has recently surged by 3.3%.
Investment Opportunities and Potential
Given the current trajectory of property valuation in Corbin, investment opportunities are promising. The consistent rise in house prices points towards a seller’s market; however, investors should note the more modest increase in apartment prices, which could signify an opportunity to enter the market at a lower price point with potential for future appreciation. Moreover, Corbin’s population growth surpasses national averages, hinting at an increasing demand for residential properties and rental units. Investors may benefit from both long-term capital gains and rental income streams as the local economy and population continue to expand.
Future Market Outlook
The future outlook for Corbin’s real estate market remains optimistic. With a steady increase in median home and apartment prices coupled with significant population growth, it is likely that demand for housing will persist. Infrastructure development, job creation, and other economic factors will play crucial roles in shaping the future of the market. If current trends hold and no major economic disruptions occur, investors can reasonably expect continued property value appreciation and investment returns over the coming years.
