Greenwood, 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 Greenwood, British Columbia, the real estate market is currently experiencing stable growth. The median house price in the area stands at $500,000, with a positive year-over-year trend of 3.5%. This indicates a steady demand for housing and a robust market environment. Similarly, the median apartment price is set at $300,000, reflecting a slightly lower but still positive annual appreciation of 2.1%. These trends are underpinned by Greenwood’s population growth rate of 7.1%, suggesting an influx of new residents and potential homebuyers.
Investment Opportunities and Potential
The consistent rise in property values in Greenwood presents attractive investment opportunities. The housing market demonstrates resilience and potential for long-term capital gains. Investors looking to capitalize on rental income may find apartments particularly appealing due to their lower entry price point and growing demand driven by the increasing population. Moreover, as the town expands, there could be opportunities for new developments, refurbishments, and conversions to meet the diverse needs of the community.
Future Market Outlook
The future outlook for Greenwood’s real estate market remains optimistic. Given the current trends of moderate price appreciation and significant population growth, it is reasonable to anticipate continued demand for housing. Factors such as local economic development, infrastructure improvements, and community investments will also play a crucial role in shaping the market dynamics. Investors and homebuyers should monitor these elements closely as they can influence property values and rental markets over time.
