Fireside, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Fireside, British Columbia, the real estate market is currently experiencing steady growth. The median house price stands at $500,000, with an appreciable year-over-year increase of 3.5%. This indicates a healthy demand for detached homes in the area, likely driven by local economic factors and housing needs. In comparison, the median apartment price has reached $300,000, with a slightly more modest annual growth of 2.1%. This difference in growth rates suggests that while both segments of the housing market are expanding, single-family homes are in higher demand.
The population of Fireside has seen a significant increase of 7.1%, which may be contributing to the upward pressure on housing prices due to increased demand. With a growing population, the housing supply will need to keep pace to maintain market balance.
Investment Opportunities and Potential
The consistent growth in property values presents various investment opportunities within Fireside’s real estate market. Investors could potentially benefit from purchasing residential properties to cater to the increasing population. Single-family homes seem to offer more substantial appreciation potential based on current trends, making them attractive for long-term investments.
Considering the 3.5% year-over-year increase in house prices and a more moderate yet stable 2.1% rise in apartment prices, both types of properties present viable options for investors looking for capital gains or steady rental income streams. The strong population growth further supports rental investment opportunities as there may be an influx of residents seeking housing before deciding to purchase their own homes.
Future Market Outlook
Looking ahead, the future market outlook for Fireside appears optimistic based on current trends and demographic indicators. If the local economy continues to thrive and supports the ongoing population growth of 7.1%, it is likely that the demand for housing will continue to drive property values upward.
However, potential investors must also consider external economic factors such as interest rates, employment rates, and regional developments that could affect property values and rental demand. Nevertheless, if current conditions persist or improve, Fireside’s real estate market could offer promising returns over mid- to long-term horizons.
It is essential for investors to remain informed about local policies regarding development and any planned infrastructure projects that may impact property values positively or negatively. Continuous monitoring of market conditions will be crucial for making informed investment decisions in Fireside’s evolving real estate landscape.
