Creston, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $530,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
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 | $530,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $270,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,100 |
| Previous Population (2020) | 15,000 |
| Population Change | 0.7% |
| Total Private Dwellings | 6,300 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Creston, British Columbia, currently presents a stable and moderately growing environment. The median house price in the area stands at $530,000, reflecting a year-over-year increase of 4.2%. This consistent growth trend indicates a healthy demand for single-family homes. Similarly, the apartment sector has seen a positive movement with the median apartment price at $320,000 and experiencing a slower but steady year-over-year growth of 2.5%.
Creston’s population of 15,100 with a growth rate of 0.7% suggests that while the area is not experiencing explosive growth, it maintains a gradual influx of new residents. This steady population increase contributes to sustained demand in the housing market.
Investment Opportunities and Potential
In terms of investment potential, Creston offers opportunities primarily in the residential sector. Given the steady rise in property values, investors can anticipate continued appreciation in both house and apartment segments. The current trends suggest that investing in single-family homes could yield higher returns due to the more substantial year-over-year price increase.
For those looking into rental properties or seeking more affordable investment options, apartments might be an attractive alternative due to their lower entry price point and consistent increase in value. With population growth maintaining demand for housing, rental investments are likely to remain secure with potential for both short-term income and long-term capital gains.
Future Market Outlook
The future outlook for Creston’s real estate market remains optimistic. The moderate population growth serves as an indicator of ongoing demand for housing which is expected to keep driving the market forward. While growth rates are not exponential, they indicate a stable trajectory that may appeal to investors looking for markets with lower volatility.
As economic conditions evolve and if local development initiatives are implemented successfully, Creston could see an enhanced interest from external investors and potential residents seeking a balance between rural charm and urban accessibility. However, it is essential for prospective investors to monitor local economic developments and infrastructure projects that could significantly influence future market dynamics.
