Krestova, 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 Krestova, British Columbia, currently showcases a relatively stable environment with consistent growth. With a median house price of $500,000, the market has experienced a year-over-year increase of 3.5%. This trend indicates a healthy demand for single-family homes in the area.
On the other hand, the median apartment price stands at $300,000, with a more modest year-over-year price appreciation of 2.1%. This slower rate of growth could imply that the apartment segment is slightly less dynamic but still maintains a steady upward trajectory.
The local population has risen to 15,000 residents, with an impressive growth rate of 7.1%. This rapid increase suggests that Krestova is becoming an increasingly popular location for new residents, which could be driving the demand in the housing market.
Investment Opportunities and Potential
The current trends indicate that Krestova holds promising investment opportunities, particularly in the residential sector. The continuous increase in home prices suggests that purchasing property now could lead to significant capital gains over time. Investors might find single-family homes to be particularly attractive due to their higher rate of appreciation.
The strong population growth can also be seen as a catalyst for future development projects and increased rental demand. Apartments, while appreciating at a slower rate compared to houses, could become lucrative investments as affordable housing becomes more sought-after due to the influx of new residents.
In addition to residential properties, there may be potential for commercial investments tied to population growth needs such as retail spaces, healthcare facilities, and educational institutions.
Future Market Outlook
Looking ahead, Krestova’s real estate market appears poised for continued growth. The robust population increase will likely maintain its course as a key driver for housing demand. If the current trends hold steady or improve, both median house and apartment prices are expected to rise accordingly.
Favorable economic conditions and demographic shifts suggest that this region may see sustained interest from both homebuyers and investors alike. However, it’s important to monitor external factors such as interest rates and employment levels that could influence market dynamics.
Careful attention should also be given to any potential zoning changes or infrastructure developments that would impact future property values. Overall, Krestova presents an optimistic outlook for those interested in entering or expanding their presence in the real estate market.
