Goodlow, 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 Goodlow, British Columbia, the real estate market is currently experiencing moderate growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This steady growth indicates a healthy market that is growing in line with historical norms for the region. Similarly, the median apartment price has reached $300,000, displaying a slightly lower year-over-year growth rate of 2.1%. The difference in growth rates between houses and apartments may signal a stronger demand for single-family homes.
The population of Goodlow is currently around 15,000 residents, which has grown by 7.1% recently. Such significant population growth suggests an increased demand for housing which could be influencing the current upward pricing trends. Additionally, this influx might be indicative of a vibrant local economy or an influx of new job opportunities that are attracting residents to Goodlow.
Investment Opportunities and Potential
The sustained increase in property values and robust population growth present several investment opportunities within Goodlow’s real estate market. Investors could expect continued appreciation in property values based on recent trends, particularly in the single-family home segment which is outperforming apartments.
The current market conditions also suggest that rental properties could be a viable investment strategy. With the population increasing, there will likely be heightened demand for rental accommodations, potentially leading to higher rental yields for investors. Furthermore, investing in apartments may still be lucrative due to their lower entry price point and the overall positive trend in their value.
An analysis of local economic drivers should also be considered when assessing investment potential as these factors will influence future real estate performance in Goodlow.
Future Market Outlook
Looking forward to the future market outlook for Goodlow, there are several indicators suggesting that the real estate market should remain strong. The consistent population growth serves as a foundation for sustained demand in housing. If the local economy continues to provide jobs and attract new residents at its current rate or higher, it is reasonable to anticipate that both property values and rental demand will continue to rise.
However, investors and potential homebuyers should also remain vigilant of external economic factors such as interest rates and national economic health which can affect local real estate markets indirectly. As long as these factors remain favourable, Goodlow’s real estate market could continue on its current trajectory of gradual growth.
In conclusion, while no market is without risk, Goodlow presents an optimistic picture for both homeowners looking to build equity and investors seeking opportunities for appreciation or rental income.
