Courtenay, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $440,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
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 | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Courtenay, British Columbia currently presents stability and modest growth. With a median house price of $520,000, the market has experienced a year-over-year increase of 4%. This indicates a growing demand for housing in the area. The market for apartments is similarly robust, with a median price of $310,000 and an appreciation trend of 2.5% over the last year. The city’s population has been on an upward trajectory with a growth rate of 3.3%, signaling a healthy increase in demand for housing.
Investment Opportunities and Potential
Courtenay offers promising investment opportunities, especially considering its steady population growth and consistent property value appreciation. Investors looking at the long-term market potential may find the single-family home segment attractive due to its higher appreciation rate. At the same time, apartments offer a more accessible entry point into the real estate market with a slightly lower but still positive appreciation trend. Courtenay’s ongoing development and increasing desirability as a place to live suggest that investments made in the local property market have the potential to yield fruitful returns in the years to come.
Future Market Outlook
The future outlook for Courtenay’s real estate market appears optimistic. As population growth continues to drive demand for housing, we can anticipate further tightening in market conditions which may lead to increased property values. The current trends suggest that both housing and apartment sectors will continue to experience gradual price gains, making them sound investments for those looking at medium to long-term horizons. If the local economy remains strong and supportive infrastructure continues to develop, Courtenay’s real estate market is likely to remain resilient and prosperous.
