Namu, 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 | 0.7% |
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 | $440,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $255,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,700 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Namu, British Columbia is currently experiencing a period of steady growth. The median house price stands at $520,000, marking a year-over-year increase of 4%. This indicates a stable market with consistent demand. Similarly, apartments in the area are also seeing an uptick in value, with the median apartment price at $310,000 and an annual growth rate of 2.5%.
The population of Namu has reached approximately 15,200 residents, growing at a rate of 3.4% per year. This population growth is a positive sign for the local real estate market as it often leads to increased demand for housing.
Investment Opportunities and Potential
Given the current market trends and demographic shifts, investment opportunities in Namu appear promising. The steady increase in property values suggests that purchasing real estate now could result in capital gains over time. Investors might particularly be interested in the housing market due to its higher growth rate compared to apartments.
In addition to residential properties, there may also be opportunities in rental properties catering to the growing population. With a 3.4% increase in residents, there is potential for both long-term leases and short-term vacation rentals if the location supports tourism or seasonal workforces.
Future Market Outlook
The future outlook for Namu’s real estate market seems optimistic based on current trends and demographic data. As long as the population continues to grow at a healthy rate, demand for housing should remain robust. If the current growth rates of property values hold steady or increase, investors can expect to see continued appreciation in their real estate assets.
However, potential investors should also consider local economic factors, land availability for new construction, and any changes in municipal regulations that could impact the real estate market. Keeping a close eye on these variables will be crucial for making informed investment decisions going forward.
