Dorreen, 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 | 0.6% |
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 | $450,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
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 Dorreen, British Columbia, is currently experiencing a steady growth trend. With the median house price sitting at $520,000 and having increased by 4% year-over-year, the market demonstrates a healthy demand for single-family homes. Meanwhile, apartments are also seeing appreciation with a median price of $310,000, which marks a 2.5% increase year-over-year.
The population of Dorreen has grown to 15,500 residents, reflecting a growth rate of 3.3%. This influx of new residents is likely contributing to the demand for housing and helping to sustain the upward pressure on home prices.
Investment Opportunities and Potential
In light of current trends, Dorreen presents several attractive investment opportunities. The consistent increase in property values suggests that purchasing real estate now could yield significant returns as market conditions continue to improve. Investors looking for long-term growth may find single-family homes particularly compelling given their higher year-over-year price increase compared to apartments.
However, with apartment prices also on the rise, albeit at a slower pace, there is potential for investors interested in catering to individuals or smaller households who may prefer more affordable housing options in the form of apartments or condos.
Future Market Outlook
The future real estate market outlook for Dorreen remains optimistic. Given the area’s solid population growth and its ongoing impact on housing demand, it is reasonable to anticipate that property prices will continue their upward trajectory. Assuming no significant changes in economic conditions or unforeseen events that could disrupt market dynamics, both housing segments – houses and apartments – are poised for continued appreciation.
Investors and homebuyers should monitor local economic developments and interest rate trends as these factors can influence mortgage affordability and ultimately impact buyer demand. Nonetheless, Dorreen’s current trajectory positions it as an appealing market for both residential living and real estate investment.
