Erickson, 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 | 0.7% |
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 | $430,000 |
| 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) | 15,500 |
| 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 Erickson, British Columbia is currently experiencing a period of steady growth. With the median house price sitting at $520,000, the market has seen a year-over-year increase of 4%. This indicates a healthy demand for residential properties and a relatively stable housing sector.
In the apartment sector, the median price is marked at $310,000 with a slightly lower growth trend of 2.5% year-over-year. This slower pace may reflect a more saturated market for apartments or could indicate that buyers in Erickson have a preference for standalone houses.
The population of Erickson stands at 15,500 with an impressive growth rate of 3.3%, suggesting an expanding community that could continue to fuel housing demand. The influx of new residents may be due to economic opportunities in the area or its attractiveness as a residential location.
Investment Opportunities and Potential
Given the positive trends in housing prices and population growth, Erickson presents several attractive investment opportunities. The consistent increase in house prices suggests that purchasing residential property could yield profitable returns over time. Investors should consider both single-family homes and apartments since different market segments can provide diversification benefits.
Additionally, the strong population growth may indicate potential for development projects aimed at meeting the increased housing demand. Investors and developers could explore constructing new residential units or renovating existing properties to capitalize on this expanding market.
Future Market Outlook
The future real estate market outlook for Erickson, British Columbia remains optimistic. The sustained population growth paired with upward trending house prices forms a solid foundation for continued market health. However, investors should monitor local economic conditions and potential policy changes that could impact the real estate landscape.
Assuming no major economic disruptions occur, the current trajectory suggests that both house and apartment prices could maintain their gradual increase. This would offer ongoing opportunities for capital appreciation to long-term investors while also ensuring that Erickson remains an appealing locale for new residents.
