Kragmont, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $310,000 |
| 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 | $520,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $480,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 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
In Kragmont, British Columbia, the real estate market has been showing a steady increase in property values. The median house price currently stands at $520,000, which marks a year-over-year growth of 4%. This consistent rise points to a healthy demand for single-family homes in the area. Similarly, apartments are experiencing growth, with the median price at $310,000 and an appreciation trend of 2.5% over the past year.
The population of Kragmont has been growing at a robust rate of 3.3%, which is significantly higher than the national average. This influx of residents is contributing to increased demand for housing and bolstering the real estate market.
Investment Opportunities and Potential
The positive trends in Kragmont’s real estate market suggest that investment opportunities are ripe. The continuous population growth paired with steady price appreciation indicates that purchasing property in this area could yield substantial returns over time. Investors looking to capitalize on rental income or long-term capital gains should consider Kragmont’s single-family homes due to their higher appreciation rate.
Apartments offer a more accessible entry point into the real estate market for investors, and although their price trend is slightly less aggressive than houses, the stability they provide can be attractive for those seeking lower-risk investments.
Future Market Outlook
The future outlook for Kragmont’s real estate market remains promising. Given the solid population growth and sustained property value increases, the market is likely to continue its upward trajectory. However, potential investors and homeowners should monitor local economic factors and development plans as they can significantly impact future market conditions.
The current trends suggest that early investments in Kragmont could benefit from continued appreciation, especially if the region maintains its population growth rate and economic stability. Nonetheless, it is crucial for investors to conduct thorough due diligence and stay informed about both provincial and national economic indicators that could influence the local real estate landscape.
