Hills, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $550,000 |
| Monthly growth | 1.4% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $460,000 |
| 3 bedrooms | $550,000 |
| 4 bedrooms | $640,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $270,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
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
Current Market Conditions and Trends
The real estate market in Hills, British Columbia is currently experiencing steady growth. With a median house price of $550,000, the market has seen a year-over-year increase of 4%. Similarly, the median apartment price stands at $320,000, which reflects a 2.5% climb over the past year. These upward trends indicate a healthy demand for housing in the area.
Additionally, the population growth rate of 3.3% suggests an expanding community. This demographic change is likely contributing to the increased demand for real estate in Hills and could be indicative of a robust local economy that attracts new residents.
Investment Opportunities and Potential
The consistent rise in property values presents appealing opportunities for investors. The moderate yet stable growth rate of house prices suggests that investment in residential real estate could yield favorable returns without the volatility seen in some overheated markets.
Apartments, with their lower median price point and solid appreciation rate, offer an accessible entry for first-time investors or those looking to diversify their portfolio with rental properties. Given that population growth remains strong, rental housing is likely to be in high demand, potentially allowing investors to capitalize on both asset appreciation and rental income.
Future Market Outlook
Looking forward, the Hills real estate market appears poised for continued growth. The combination of steady price increases and robust population expansion bodes well for long-term stability and potential gains.
However, investors and homebuyers should be cognizant of external economic factors that can impact interest rates and borrowing costs. While current trends are positive, it’s essential to monitor economic indicators that could affect housing affordability and market dynamics in Hills.
In summary, Hills presents itself as a promising area for real estate investment with its growing population and consistent property value appreciation. Stakeholders should remain attentive to shifts in the market while capitalizing on current opportunities.
