Groundbirch, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $550,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $425,000 |
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 Groundbirch, British Columbia is currently experiencing a modest but stable growth. The median house price stands at $485,000, which represents a year-over-year increase of 2.8%. This increment indicates a healthy demand and a steadily appreciating housing market. Similarly, the median apartment price is $295,000, following a similar upward trend with a 2.5% year-over-year growth.
The population of Groundbirch is approximately 15,500 residents, with a notable population growth rate of 3.3%. This demographic trend underpins the ongoing demand for housing in the region and suggests that the market has not yet reached a saturation point. The consistent increase in property values, coupled with the growing population, points to an active market where listings are likely to move reasonably quickly.
Investment Opportunities and Potential
The current market dynamics offer promising investment opportunities in Groundbirch. Given the steady climb in property values and the robust population growth, investors could expect to see continued appreciation in both residential properties and apartment units over time. The increased demand driven by population growth may also present possibilities for rental investments as more people look for homes in the area.
Furthermore, with the median prices for houses and apartments being relatively affordable compared to larger metropolitan areas, there’s potential for first-time buyers to enter the market. This could encourage long-term residential development and contribute to overall community growth. Investors should consider these factors when assessing the potential return on investment in Groundbirch’s real estate market.
Future Market Outlook
The outlook for Groundbirch’s real estate market remains optimistic based on current trends and demographic data. Assuming that the economic conditions remain stable and supportive of growth, it is reasonable to forecast continued moderate price increases for both houses and apartments.
The consistent population growth rate suggests sustained demand that will likely keep pushing property values upward at a healthy pace. This demographic factor, combined with low interest rates and an influx of buyers seeking value outside of larger urban centers, could serve as key drivers for future real estate performance in Groundbirch.
In conclusion, Groundbirch’s real estate market demonstrates favorable conditions for both short-term investment strategies focused on capital gains from rising property values and long-term investment strategies centered on rental income from an expanding population base.
