Kingsvale, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Kingsvale, British Columbia, is currently characterized by steady growth. With a median house price of $500,000 and experiencing a year-over-year price increase of 3.5%, the market shows consistent appreciation. Similarly, the median apartment price stands at $300,000, which has risen by 2.1% over the last year. These trends indicate a healthy demand for housing in the area.
The population of Kingsvale has grown by 7.1%, suggesting that the town is becoming increasingly attractive to new residents. This uptick in population is likely contributing to the real estate market’s strength, as more people are seeking homes, thereby pushing prices upward modestly.
Investment Opportunities and Potential
Given the steady growth in housing prices and the significant population increase, Kingsvale presents as an appealing location for real estate investment. The moderate yet consistent rise in property values suggests room for capital gains over time. Investors looking for long-term appreciation might find single-family homes particularly attractive due to their higher price appreciation rate compared to apartments.
Apartments could be an excellent opportunity for those interested in rental income investments due to their lower entry price and favorable conditions for a growing rental market driven by population growth. Additionally, as more people move to Kingsvale, demand for rental properties is likely to increase, potentially leading to higher rental yields.
Future Market Outlook
The future outlook for the Kingsvale real estate market remains positive. Continued population growth should sustain demand for housing and could lead to further increases in property values. The current trends suggest that both houses and apartments will continue to appreciate, albeit at a gradual rate.
If these growth rates hold steady or improve, Kingsvale could see stronger market conditions that favor sellers. However, investors should monitor local economic factors and developments that could affect property values, such as changes in employment rates or major infrastructure projects.
In conclusion, with careful consideration of local trends and an eye on external influencing factors, stakeholders can make informed decisions when engaging with the Kingsvale real estate market.
