Elkford, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| 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 | $495,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.4 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Elkford, British Columbia is experiencing steady growth. As of the latest data, the median house price stands at $495,000, with a year-over-year increase of 3.2%. This indicates a healthy and gradual appreciation in property values. Similarly, the median apartment price is currently $295,000, which has risen by 2.5% year-over-year. These statistics show that both segments of the housing market are growing at a sustainable pace.
Investment Opportunities and Potential
The real estate market in Elkford presents attractive opportunities for investors. Given the steady growth in property values, investors can anticipate favorable returns on both residential houses and apartments. The consistent increase in prices suggests that demand for housing is strong and that there is ongoing confidence in the local real estate market. Additionally, with a population of 15,000 that has grown by 3.4%, Elkford’s expanding community may further drive demand for housing, thereby bolstering investment potential.
Future Market Outlook
Looking ahead, Elkford’s real estate market shows signs of continued strength. The consistent population growth rate of 3.4% is likely to sustain demand for housing. Coupled with the current trends indicating modest yet steady increases in property values, the future market outlook remains positive. Investors and homebuyers can expect ongoing stability and growth within this market, making it an appealing environment for long-term investment and residential planning.
