Firvale, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.3% |
| 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 | $470,000 |
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 is currently experiencing stable growth. With a median house price of $520,000, there has been a year-over-year increase of 4%. This indicates a healthy demand for housing in the area, signaling a robust market. Similarly, the median apartment price stands at $310,000, with a slightly slower growth rate of 2.5% year-over-year. This suggests that while apartments are appreciating in value, they are doing so at a more modest pace relative to houses.
The population of Firvale has been growing at an impressive rate of 3.3%, which is likely contributing to the demand for housing and the consequent price appreciation. Given these trends, the real estate market in Firvale is competitive but still accessible to potential homebuyers and investors.
Investment Opportunities and Potential
Firvale presents several attractive investment opportunities within its real estate sector. The steady growth in house prices indicates that investments in residential properties have the potential for capital gains over time. Investors may find particular interest in acquiring single-family homes or apartments that can cater to the growing population.
Furthermore, as population growth often leads to increased rental demand, investors might consider Firvale’s market for rental properties. The current trends suggest that both property values and rental rates may continue to rise, potentially offering strong returns on investment through both rental income and property appreciation.
Future Market Outlook
Looking ahead, the future market outlook for Firvale is positive. The consistent population growth suggests an ongoing need for housing which may continue to drive property values upward. If the current trends persist—a combination of steady price increases and strong demographic growth—Firvale’s real estate market should remain appealing for both homeowners and investors.
It’s important to note that while past performance can provide insights into future trends, it does not guarantee identical results moving forward. Factors such as economic changes, interest rates fluctuations, and government policies can affect market dynamics. As such, those interested in Firvale’s real estate market should stay informed about regional developments and consider consulting with local real estate professionals before making investment decisions.
