Genelle, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.4% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
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 | $450,000 |
| 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 Genelle, British Columbia, is experiencing a period of steady growth. The median house price stands at $520,000, which indicates a year-over-year increase of 4.2%. This consistent appreciation in housing values suggests a healthy demand for residential properties. Similarly, the median apartment price has grown to $310,000, marking a more moderate but still positive trend with a 2.5% year-over-year increase.
The population of Genelle has reached approximately 15,500 residents and is growing at an annual rate of 3.3%. This growth is likely contributing to the sustained demand for housing in the area. As the population expands, we would expect a corresponding increase in demand for both houses and apartments.
Investment Opportunities and Potential
The current trends in Genelle’s real estate market present appealing opportunities for potential investors. The consistent increase in property values offers prospects for capital gains over time. Single-family homes, with their higher year-over-year price increase, may be particularly attractive as long-term investments.
Apartments also offer investment potential, especially for those looking to enter the market at a lower price point while still benefiting from the general upward trend in property values. Additionally, given the population growth, there may be an opportunity to invest in residential development projects or rental properties to cater to the increasing housing demand.
Future Market Outlook
The future outlook of Genelle’s real estate market appears positive based on current trends and demographic indicators. Assuming that economic conditions remain favorable and that the local job market continues to support population growth, we can expect the demand for housing to remain robust.
An ongoing rise in property prices can be anticipated if supply does not keep pace with demand. However, potential investors should monitor local development plans and zoning regulations as these could impact future property values and influence market dynamics.
In conclusion, Genelle presents a promising environment for real estate investment, with both short-term gains through appreciation and long-term income through rentals plausible within this growing community.
