Courtenay, 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 | 0.6% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| 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 | $460,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Courtenay, British Columbia
In Courtenay, the median house price stands at $525,000, indicating a year-over-year increase of 4%. This suggests a steadily appreciating residential real estate market. Such growth may be attributed to the area’s desirable features and amenities that continue to attract buyers. Similarly, the median apartment price is currently $320,000, experiencing a more modest growth rate of 1.9% year-over-year. This different pace between house and apartment price trends could be reflective of varying demand dynamics within the housing segments.
The population of Courtenay is 15,500 with a healthy growth rate of 3.3%. Population growth is often a positive indicator for real estate markets as it can lead to increased demand for housing. The consistent influx of residents may be contributing to the sustained property value appreciation observed in recent years.
Investment Opportunities and Potential in Courtenay
Given the steady rise in property values and demographic expansion, Courtenay presents intriguing opportunities for real estate investment. Single-family homes have shown stronger growth compared to apartments, possibly indicating a higher demand for this type of property or limited inventory that escalates prices. Investors looking for long-term capital gains might consider investing in houses given the current trend.
Apartments offer a lower entry point at a median price of $320,000 and may be particularly appealing for first-time investors or those seeking rental properties. With a slower appreciation rate than houses, apartments could potentially offer more stability and predictability for cash flow-focused investors.
Another factor to consider is the city’s infrastructure development plan aligned with population growth. As more people move into the area, demand for retail spaces, offices, and other commercial properties could rise, presenting an additional avenue for investors seeking diversification beyond residential real estate.
Future Market Outlook for Courtenay
Looking ahead, Courtenay’s real estate market appears poised for continued growth. The population increase will likely sustain housing demand, which may further drive property values upward if supply doesn’t keep pace. The city’s attractiveness as a lifestyle destination coupled with economic opportunities suggests that the influx of new residents—and hence potential buyers and renters—is set to continue.
While past performance is not always indicative of future results, the steady appreciation in housing prices could be seen as an encouraging sign for future capital gains. However, investors should stay informed about local developments such as zoning laws changes or significant economic shifts that might impact these trends.
Overall, while every investment carries risk and requires due diligence, Courtenay’s real estate market data points toward opportunities especially for those with a medium to long-term investment horizon.
