Harrogate, 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
The real estate market in Harrogate, British Columbia is exhibiting a stable growth pattern. The median house price currently stands at $500,000, showing a year-over-year increase of 3.5%. This steady appreciation in home values is indicative of a healthy market that has been resilient in the face of economic fluctuations.
In contrast, apartments are slightly more affordable with a median price of $300,000, which has seen a smaller yet consistent year-over-year growth of 2.1%. This difference in growth rates between houses and apartments may reflect a trend where single-family homes are in higher demand compared to apartments or could indicate a preference for more spacious living accommodations among residents.
The population of Harrogate is approximately 15,000 people, with an impressive growth rate of 7.1%. This rapid population increase suggests that Harrogate is an attractive location for new residents, likely due to its economic opportunities, lifestyle amenities, or both.
Investment Opportunities and Potential
The robust population growth paired with the steady appreciation of property values presents considerable investment potential in Harrogate’s real estate market. Investors should take note of the solid performance of detached homes which may offer better long-term capital gains due to their higher growth rate compared to apartments.
The current demand trends suggest that investing in single-family homes could yield significant returns as the market continues to favor these types of properties. However, apartments should not be overlooked as they offer an entry point into the real estate market at a lower price point, which may be attractive for first-time homebuyers or those seeking rental investment opportunities.
Developers and investors might also consider exploring new construction projects or renovation ventures to cater to the growing population seeking modern living spaces.
Future Market Outlook
The future outlook for Harrogate’s real estate market remains positive. Given the sustained population growth and the region’s economic prospects, it’s reasonable to expect that both housing demand and property values will continue on an upward trajectory.
The consistent rise in median prices for both houses and apartments signals confidence in the local real estate economy. If these trends persist, Harrogate can anticipate healthy market conditions that are conducive to ongoing investment and development.
It will be important for investors and stakeholders to monitor key economic indicators and demographic shifts closely as these will greatly influence the direction and magnitude of future market movements. Nevertheless, current data suggests that Harrogate stands as a promising location for real estate investment with a favorable long-term outlook.
