Glenora, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $950,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $550,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $800,000 |
| 3 bedrooms | $950,000 |
| 4 bedrooms | $1,100,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $500,000 |
| 2 bedrooms | $600,000 |
| 3 bedrooms | $750,000 |
Demographics
| Current Population (2025) | 16,000 |
| Previous Population (2020) | 15,800 |
| Population Change | 1.3% |
| Total Private Dwellings | 7,000 |
| Occupied Private Dwellings | 6,500 |
| Population Density (per km²) | 2.0 |
| Land Area (km²) | 3,000.0 |
Market Analysis
1. Current Market Conditions and Trends
With a median house price of $950,000 and experiencing a year-over-year growth of 4%, the real estate market in Glenora, British Columbia, continues to display robust health. The upward trend in housing prices indicates a strong demand for single-family homes in the area. Similarly, the median apartment price stands at $550,000, showing a slightly more moderate year-over-year increase of 2.5%. This relatively lower price point and growth rate may reflect a steady but less aggressive demand for multi-family dwellings.
The population of Glenora is currently around 16,000 with a growth rate of 1.27%. This steady increase in residents suggests a growing community that will likely sustain demand for housing. The local real estate market appears to be benefiting from this demographic trend, potentially supporting ongoing investment and development activities.
2. Investment Opportunities and Potential
Glenora’s real estate market offers promising opportunities for both residential property investors and developers. The consistent appreciation in house and apartment prices signals potential for capital gains over the long term. Investors looking to purchase rental properties might find apartments particularly attractive due to their lower entry price point and considerable demand as evidenced by their price growth.
Developers could also see potential in building new residential units or renovating existing ones to cater to the expanding population. The steady population growth coupled with rising property values creates an environment conducive to both small-scale renovations and larger development projects.
3. Future Market Outlook
The future market outlook for Glenora appears positive. With an ongoing upward trajectory in property values and stable population growth, the fundamentals suggest that this trend is likely to continue. If current economic conditions persist, prospective buyers may face increased competition, leading to further price escalations.
However, it is essential for stakeholders to monitor external factors such as interest rates, employment levels, and broader economic trends that could impact the real estate market’s performance. Should these factors remain favorable, Glenora’s real estate market is poised for continued growth and remains an attractive option for those looking to invest in British Columbia’s property sector.
