Goodlow, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $625,000 |
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 | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Goodlow, British Columbia, is currently experiencing steady growth. The median house price stands at $525,000, which represents a 4% year-over-year increase. This indicates a robust market with consistent appreciation in property values. Similarly, the median apartment price has seen an upswing to $320,000, following a 2.8% year-over-year trend. These trends suggest that Goodlow’s real estate market is healthy and growing at a sustainable pace.
Supporting the housing market’s expansion is the town’s population growth of 3.3%, which signals an increasing demand for housing as more people choose to call Goodlow home. This demographic shift is likely due to Goodlow’s economic opportunities, lifestyle offerings, and its appeal as a smaller community with access to natural surroundings.
2. Investment Opportunities and Potential
Investors considering the Goodlow real estate market have several promising avenues to explore. The steady increase in property values presents an opportunity for long-term capital gains, particularly in the single-family home segment where a 4% annual growth rate has been observed.
Apartments also offer attractive investment potential with their 2.8% annual appreciation rate. Given the lower median price point of apartments at $320,000, they may represent an accessible entry point for first-time investors or those looking to diversify their portfolios with rental properties to cater to smaller households or professionals.
The ongoing population growth further bolsters the case for investment as it drives rental demand. This demographic trend suggests that investments in both rental properties and developments aimed at meeting this burgeoning demand could yield strong returns.
3. Future Market Outlook
The future outlook for Goodlow’s real estate market appears optimistic. The consistent population growth of 3.3%, along with positive economic indicators, suggests that demand for housing will continue to rise. Assuming the local economy remains stable and continues to attract new residents, it is reasonable to expect that both house and apartment prices may maintain their upward trajectories.
However, as in any market, potential investors should be aware of external factors that can impact real estate values such as changes in interest rates, economic fluctuations, and government housing policies.
In conclusion, the current data points towards Goodlow being a strong candidate for real estate investment with potential for continued growth in the foreseeable future.
