Firvale, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $490,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $310,000 |
| 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 | $490,000 |
| 4 bedrooms | $580,000 |
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 Firvale, British Columbia, currently exhibits a steady growth pattern. The median house price stands at $490,000, reflecting a year-over-year increase of 3.2%. This incremental rise suggests a stable demand for housing and a growing confidence among homebuyers and investors in the region’s property market. Similarly, apartments have seen a price trend increase of 2.5% year-over-year, with the median price at $310,000. The consistent growth across both housing types indicates balanced market conditions that have so far avoided the volatility seen in larger Canadian markets.
The local population has experienced significant growth, with an increase of 3.3%, bringing the total to approximately 15,500 residents. This demographic expansion is likely contributing to the sustained demand for housing in Firvale.
Investment Opportunities and Potential
Firvale presents several enticing opportunities for real estate investors. The gradual price appreciation suggests that purchasing property in this market could yield solid returns over time without the risk of sharp downturns that can occur in more volatile markets. The steady population growth further supports the potential for rental properties to meet the demand from new residents seeking accommodation.
Investors looking at long-term capital gains might consider single-family homes due to their higher rate of appreciation compared to apartments. However, apartments should not be overlooked as they offer lower entry points into the real estate market and may appeal to smaller households or those seeking more affordable housing options.
Future Market Outlook
The outlook for Firvale’s real estate market remains positive. Assuming current trends continue, moderate but steady growth can be anticipated for both house and apartment prices. The ongoing population increase is expected to persist as Firvale continues to attract new residents with its appealing lifestyle and economic opportunities.
Moving forward, monitoring key economic indicators such as employment rates, infrastructure development, and interest rate changes will be crucial in predicting any shifts in the market dynamics. Nevertheless, Firvale’s current trajectory positions it as a promising market for both homebuyers and investors looking for stability and gradual appreciation in their real estate ventures.
