Keremeos, 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 | 0.9% |
Apartment
| Median price | $310,000 |
| 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 | $625,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,900 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Keremeos, British Columbia, is currently characterized by a steady increase in property values. The median house price stands at $525,000, reflecting a year-over-year growth of 4%. This indicates a healthy demand for single-family homes in the area. The market for apartments is also showing positive momentum, with a median price of $310,000 and an annual appreciation rate of 2.5%. These figures suggest that while the apartment market is growing at a slightly slower pace than houses, it remains a robust segment.
The population of Keremeos has reached approximately 15,200 residents with a growth rate of 2%. This steady increase in population is likely contributing to the ongoing demand for housing and underpins the market’s current trends.
2. Investment Opportunities and Potential
Investors considering Keremeos for real estate opportunities may find potential in both the single-family home and apartment segments. The consistent growth in median prices for houses and apartments indicates a market with underlying strength. Given the 4% annual increase in house prices and the 2.5% rise in apartment values, investments in these areas could yield favorable returns over time.
The steady population growth also suggests a continuous demand for rental properties. Investors might explore options such as purchasing homes to rent out or developing multi-unit residential buildings. With careful market analysis and property management, rental investments could offer sustained income streams.
3. Future Market Outlook
The outlook for Keremeos real estate appears promising given current trends. If the population continues to grow at the current rate of 2%, demand for housing is likely to remain strong, supporting further property value appreciation. Moreover, as long as economic conditions remain stable, with low-interest rates and favorable employment rates, the local real estate market should maintain its upward trajectory.
However, prospective investors and homeowners must consider broader economic factors that could impact future market conditions, such as changes in mortgage regulations or shifts in provincial economic policies. Keeping abreast of these factors will be important when forecasting long-term market performance.
