Cumberland, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $565,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $325,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $485,000 |
| 3 bedrooms | $565,000 |
| 4 bedrooms | $675,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $275,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,300 |
| Previous Population (2020) | 15,000 |
| Population Change | 2.0% |
| 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
The real estate market in Cumberland, British Columbia is currently experiencing steady growth. The median house price stands at $565,000, reflecting a 4% increase year-over-year. This demonstrates a continued upward trend in housing prices, indicating healthy demand and a robust market. Similarly, the median apartment price has seen a rise to $325,000, marking a 2.5% increase from the previous year. The consistent growth in apartment prices suggests that smaller housing units are also seeing an uptick in value.
Cumberland’s population has grown by 2% to reach 15,300 residents, which may have contributed to the upward pressure on real estate prices due to increased demand. The local economy and employment rates are also influential factors in this dynamic market landscape.
Investment Opportunities and Potential
With both house and apartment prices showing positive trajectories, Cumberland presents appealing investment opportunities for real estate investors. The steady increase in property values coupled with population growth indicates that there is ongoing interest in the area, which can be advantageous for both rental and resale markets.
Investors looking to capitalize on the long-term appreciation of properties might consider investing in houses due to their higher year-over-year price increase. Meanwhile, apartments can be attractive for those seeking lower entry points into the real estate market or aiming for rental income investments. With the current trends, both housing options present potential for capital gains over time.
Future Market Outlook
As Cumberland continues to grow and attract new residents, the future outlook of its real estate market appears promising. If the current trends persist—moderate population growth alongside rising property values—we can expect the real estate market to remain stable with potential for continued growth.
However, investors should keep an eye on external economic factors such as interest rates, employment levels in the region, and broader provincial or national economic conditions that could influence buyer affordability and impact market dynamics.
In conclusion, Cumberland’s real estate market demonstrates positive signs for both short-term stability and long-term growth potential. Therefore, it remains an attractive option for investors looking to diversify their portfolios or capitalize on emerging real estate opportunities in British Columbia.
