Dorreen, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 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) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| 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 moderate growth. The median house price stands at $520,000, which marks a 4% year-over-year increase. This indicates a sustained demand for housing in the area, likely driven by the region’s appealing natural surroundings and lifestyle offerings.
In comparison, the median apartment price is at $320,000, with a slightly lower growth trend of 2.5% year-over-year. The slower growth in apartment prices could be indicative of a market where buyers prefer more spacious living accommodations, which is common in regions with scenic landscapes like Dorreen.
The local population has reached 15,200 residents and is on an upward trajectory with a substantial population growth of 4.8%. This demographic expansion can be attributed to both natural population growth and migration to the area, which may continue to fuel housing demand.
Investment Opportunities and Potential
The positive trends in housing prices and population growth suggest that Dorreen holds significant potential for real estate investments. With house prices increasing at a steady rate of 4%, investment in residential properties could yield favorable returns over time. Additionally, as new residents are drawn to the area, rental properties, particularly houses, may see increased demand, leading to potentially higher rental yields for investors.
The apartment market’s lower growth rate may appeal to investors looking for more affordable entry points into the real estate market. While the appreciation might be slower compared to houses, apartments can still offer stable rental income supported by demographic trends such as smaller household sizes or preferences among certain renter demographics.
Future Market Outlook
The future of the Dorreen real estate market looks promising. Considering the robust population growth combined with consistent property value appreciation, it’s reasonable to expect continued demand for housing. As long as economic conditions remain favorable and the area retains its attractiveness for both current and new residents, the market is likely to maintain its upward trajectory.
However, investors should monitor local economic developments and infrastructure investments that could impact future property values. Factors such as employment rates, access to services, and community developments will play crucial roles in shaping the long-term outlook of Dorreen’s real estate landscape.
