Hope, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
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 Hope, British Columbia is currently experiencing a period of moderate growth. With a median house price of $525,000 and an annual growth rate of 4%, the housing market shows signs of steady appreciation. This trend is slightly lower for apartments, where the median price stands at $320,000 with a growth rate of 2.5% year-over-year. These trends reflect a healthy demand in Hope’s real estate sector, likely fuelled by the region’s lifestyle appeal and its proximity to larger urban centers.
Investment Opportunities and Potential
Hope offers various investment opportunities for both residential properties and rental markets. The consistent growth in property values indicates a stable investment environment. Given the 3.3% population increase, there is potential for continued demand for housing, which may drive future price increases and strengthen the rental market. Investors might find particular value in targeting mid-range residential properties that cater to the growing demographic or developing apartment complexes to accommodate those preferring smaller, more affordable living spaces.
Future Market Outlook
The future outlook for Hope’s real estate market remains positive. The steady population growth of 3.3% points towards a persistent demand for housing. If current economic conditions hold and migration trends continue, we can expect sustained growth in property values, albeit at a potentially slower pace than previous years due to broader economic factors affecting affordability and lending rates. Nonetheless, Hope’s real estate market appears resilient and offers promising prospects for long-term investors.
