Kimberley, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
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 Kimberley, British Columbia, is currently experiencing steady growth. With a median house price of $525,000 and a year-over-year increase of 4.2%, the market is showing healthy appreciation. The median apartment price stands at $310,000, with a more modest growth trend of 2.5% over the previous year. These statistics indicate a burgeoning market that is attracting interest from both homeowners and investors alike.
The population of Kimberley has grown by 3.3% to 15,500 residents, suggesting an expanding community that could continue to drive demand for housing in the area. This growth may be reflective of Kimberley’s appeal as a lifestyle destination known for its outdoor recreation opportunities and scenic beauty.
Investment Opportunities and Potential
KImberley’s real estate market presents various investment opportunities, especially considering the sustained growth in property values. The consistent rise in median house prices suggests that investments in residential properties could yield profitable returns over time due to capital appreciation.
Furthermore, the city’s increasing population points towards a potential rise in demand for rental properties. Investors might benefit from purchasing apartments or houses to cater to the rental market, taking advantage of the relatively lower price point of apartments and their steady appreciation rate.
Future Market Outlook
The outlook for Kimberley’s real estate market remains optimistic. If current trends persist, such as population growth and property value increases, the market could see continued expansion. The desirability of Kimberley as a place to live should also support ongoing investment and residential development.
However, potential investors and homebuyers should be mindful of broader economic conditions that can affect local markets, such as interest rate changes and employment rates. Close monitoring of these factors will be important for anyone looking to enter or exist the Kimberley real estate market.
