Delta, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $1,249,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 1.1% |
Apartment
| Median price | $699,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 0.9% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $950,000 |
| 3 bedrooms | $1,249,000 |
| 4 bedrooms | $1,450,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $600,000 |
| 2 bedrooms | $700,000 |
| 3 bedrooms | $800,000 |
Demographics
| Current Population (2025) | 100,000 |
| Previous Population (2020) | 98,000 |
| Population Change | 2.0% |
| Total Private Dwellings | 40,000 |
| Occupied Private Dwellings | 38,000 |
| Population Density (per km²) | 2.5 |
| Land Area (km²) | 3,000.0 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Delta, British Columbia, is currently experiencing a period of steady growth. With a median house price of $1,249,000, which has increased by 4.2% year-over-year, the market demonstrates resilience amidst broader economic conditions. The median apartment price stands at $699,000, with a slightly more modest growth rate of 2.5% year-over-year. This growth is reflective of Delta’s appeal as a community that balances urban amenities with suburban charm.
As of now, Delta’s population is approximately 100,000 residents, with a healthy growth rate of about 2.04%. This steady increase in population is indicative of the city’s attractiveness to both individuals and families looking for residential stability in the Greater Vancouver area.
Investment Opportunities and Potential
The positive trends in property value appreciation highlight the potential for investment opportunities in Delta’s real estate market. Single-family homes, given their higher year-over-year price increase, present a particularly attractive option for long-term capital gains. Furthermore, the continuous population growth suggests a sustained demand for housing, which bodes well for rental market prospects.
Apartments offer a lower barrier to entry for investors due to their lower median price point. With an upward trend in apartment values and the potential for rental income, they represent an opportunity for investors seeking both capital appreciation and cash flow.
Future Market Outlook
The future outlook for Delta’s real estate market remains positive with several factors contributing to this prognosis. The ongoing population growth will likely continue to drive demand for housing in both the purchase and rental markets. Moreover, Delta’s strategic location within the Metro Vancouver region and its appeal to diverse demographics support the notion that the local real estate market will remain robust.
The sustained increase in property values indicates that Delta is poised to maintain its status as a desirable location for homeowners and investors alike. While external economic factors such as interest rates and national economic health could impact market dynamics, current trends suggest that Delta’s real estate market has strong fundamentals that could weather potential challenges ahead.
