Edgewood, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $325,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $480,000 |
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 a period of steady growth. With a median house price of $525,000, the market has seen a year-over-year increase of 4.2%. This indicates a healthy upward trend in property values for the area, reflecting a strong demand for housing. Similarly, the median apartment price stands at $325,000, with a more modest year-over-year appreciation of 2.5%. This slower rate of increase for apartments suggests a slightly different dynamic in this segment, possibly due to different demand pressures or inventory levels.
Edgewood’s population has been growing at a rate of 3.3%, now reaching approximately 15,500 residents. This population growth is likely contributing to the demand for housing and could be one of the drivers behind the rising property prices. As more people move to Edgewood seeking its lifestyle and employment opportunities, we can expect continued pressure on the housing supply.
Investment Opportunities and Potential
For investors considering Edgewood’s real estate market, there are clear signs of potential. The consistent growth in house prices suggests that investments in residential properties could yield profitable returns over time. Single-family homes, in particular, could be attractive given their stronger appreciation rate compared to apartments.
Moreover, the ongoing population growth implies an enduring need for housing, which may stimulate the rental market. Investors looking at long-term rental income or vacation rental opportunities might find Edgewood’s growing community an advantageous environment.
It is also important to consider the diversity of housing stock and future developments planned for the area as these factors will influence both the availability and desirability of investment properties. As such, thorough market research and an understanding of local development plans are essential for making informed investment decisions.
Future Market Outlook
Looking ahead, the future market outlook for Edgewood remains positive. The consistent population growth paired with healthy property value appreciation indicates a robust real estate market poised for sustained growth. Barring any unforeseen economic events or significant policy changes that could affect the market dynamics, we can reasonably anticipate that both house and apartment prices may continue their upward trajectory.
Nevertheless, prospective buyers and investors should remain aware of economic indicators such as interest rates, employment figures, and broader provincial or national economic trends that could impact the local real estate market. Staying abreast of these factors will be key to making well-informed decisions in Edgewood’s promising but ever-changing real estate landscape.
