Keremeos, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| 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 | $480,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| 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 Keremeos, British Columbia is currently experiencing a steady increase in property values. With the median house price at $525,000, there has been a consistent 4% year-over-year growth. This suggests a robust market where demand for single-family homes remains strong. The market for apartments is also showing positive momentum, with the median apartment price sitting at $320,000, marking a slightly lower but still healthy 2.5% year-over-year increase.
The population of Keremeos has reached approximately 15,200 residents, with an impressive growth rate of 4.8%. This demographic expansion is likely contributing to the increased demand for housing in the area, which in turn drives property values upward.
Investment Opportunities and Potential
In terms of investment opportunities, Keremeos presents potential for both residential and rental markets. Given the steady rise in home prices coupled with significant population growth, investors could expect continued appreciation in property values over time. The single-family home segment appears particularly promising due to its higher growth rate.
The rental market may also offer attractive returns thanks to the growing population. With more people moving into the area and a strong demand for apartments reflected by their price trend, investing in multi-unit residential properties could capitalize on the need for rental accommodation.
Future Market Outlook
The outlook for Keremeos’ real estate market appears positive. Assuming that current trends continue, including population growth and housing demand, we can anticipate further appreciation in property values. The substantial increase in residents suggests that the town’s infrastructure and economy are likely to expand as well, potentially leading to greater investment opportunities across various sectors.
However, it’s important for investors and homebuyers to consider broader economic factors such as interest rates, employment rates, and provincial real estate policies that could impact market conditions. Monitoring these variables will be key to making informed decisions about entering or continuing investment in Keremeos’ real estate market.
