Hastingssunrise, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $1,600,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.5% |
Apartment
| Median price | $800,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $1,200,000 |
| 3 bedrooms | $1,600,000 |
| 4 bedrooms | $2,000,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $700,000 |
| 2 bedrooms | $800,000 |
| 3 bedrooms | $900,000 |
Demographics
| Current Population (2025) | 16,000 |
| Previous Population (2020) | 15,500 |
| Population Change | 3.2% |
| Total Private Dwellings | 7,000 |
| Occupied Private Dwellings | 6,700 |
| Population Density (per km²) | 2.0 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Hastings-Sunrise, British Columbia
The real estate market in Hastings-Sunrise, British Columbia, is currently experiencing a period of steady growth, as indicated by the median house price of $1,600,000, which reflects a year-over-year increase of 4%. This uptick in housing prices suggests a healthy demand for properties within this locale. Similarly, the median apartment price stands at $800,000, marking a more modest year-over-year growth of 2.5%.
The area’s population has seen a significant increase with a growth rate of 3.2%, highlighting the region’s attractiveness and potential for further development. This demographic expansion can be attributed to both natural population growth and migration, as more individuals and families are drawn to Hastings-Sunrise due to its residential appeal and community amenities.
Investment Opportunities and Potential
For investors considering the Hastings-Sunrise market, there is considerable potential due to the consistent growth patterns in both housing and apartment prices. The stable appreciation of property values indicates that investments made in this region are likely to benefit from capital gains over time. Additionally, the increasing population presents opportunities for rental property investments with the potential for positive cash flow given the growing demand for housing.
The diversity of properties available, ranging from single-family homes to multi-unit apartments, allows investors to diversify their portfolios based on their investment strategies and risk tolerance. Moreover, ongoing development projects and improvements in infrastructure may further enhance property values and the overall attractiveness of Hastings-Sunrise as an investment destination.
Future Market Outlook
The future market outlook for Hastings-Sunrise remains optimistic. With a steady increase in population and a robust 3.2% growth rate, demand for housing is expected to remain strong. This demographic momentum coupled with limited supply could exert upward pressure on both house and apartment prices.
Considering historical trends and current economic indicators, it is reasonable to anticipate continued moderate price increases across property types in the coming years. However, investors should also monitor local development plans, changes in regional employment rates, interest rates, and broader national economic conditions as they can all impact market dynamics.
In summary, Hastings-Sunrise presents a compelling opportunity for real estate investors looking for long-term growth and stability within the Canadian real estate market.
