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 is currently experiencing moderate growth. With the median house price sitting at $500,000 and witnessing a year-over-year increase of 3.5%, the market shows signs of healthy demand. Similarly, the apartment sector is also on an upward trend with a median price of $300,000 and a slightly lower growth rate of 2.1% year-over-year.
This growth can be partially attributed to Krestova’s population expansion, which has surged by 7.1%, bringing the total to approximately 15,000 residents. This demographic shift suggests a rising demand for housing in both the private home and apartment markets.
Investment Opportunities and Potential
The steady price appreciation in Krestova’s real estate market indicates that investment opportunities may yield positive returns. The current trends suggest that properties are appreciating at a stable rate, making investments in residential real estate potentially lucrative over the medium to long term.
Considering the significant population growth, investors may find particular potential in the development of new residential units or the renovation of existing properties to cater to the increasing housing demand. Rental properties could also be an attractive option given that new residents may seek temporary housing solutions before committing to homeownership.
Future Market Outlook
The future outlook for Krestova’s real estate market appears cautiously optimistic. Given the solid population growth coupled with consistent property value increases, it is likely that the demand for housing will continue to bolster the market. However, potential investors and stakeholders should monitor economic indicators and local policies as they can affect market dynamics.
If current trends persist, both house and apartment prices may continue their gradual ascent. Nonetheless, external factors such as interest rates, employment rates, and regional economic developments should be considered when forecasting long-term trends.
