Edgewood, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 0.5% |
| Quarterly trend | 1.8% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $630,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
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 Edgewood, British Columbia, is currently experiencing steady growth. With a median house price of $520,000, the market has seen a year-over-year increase of 2.8%, indicating a stable upward trend. Similarly, the median apartment price is $310,000, with a slightly slower growth rate of 1.8% year-over-year. These figures suggest that the market is healthy but not overheating, offering a balanced environment for both buyers and sellers.
The population of Edgewood stands at 15,500 and has been growing at a robust pace of 3.3%. This demographic expansion is likely contributing to the demand for housing in the area, supporting the observed appreciation in property values.
Investment Opportunities and Potential
In light of the current market trends, Edgewood presents several attractive investment opportunities. The steady price increase in both houses and apartments indicates that investments in residential real estate are likely to benefit from continued capital appreciation. Moreover, the strong population growth rate suggests an ongoing demand for rental properties, which could provide investors with stable rental income streams.
Given that the increase in property prices remains moderate, there is potential for first-time buyers to enter the market before prices potentially accelerate further. Investors looking for long-term gains might consider purchasing rental properties or engaging in buy-and-hold strategies to capitalize on Edgewood’s solid market fundamentals.
Future Market Outlook
The future outlook for Edgewood’s real estate market appears promising. The combination of steady price growth and significant population increase points to a continued demand for housing. If these trends persist, it is reasonable to anticipate that property values will maintain their upward trajectory over the medium to long term.
However, it’s essential for investors and potential homeowners to stay informed about any changes in local economic conditions or shifts in national housing policies that could impact the market dynamics in Edgewood. Close monitoring of interest rates, employment trends, and regional development plans will be crucial in making informed decisions about entering or exiting this market.
