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Naramata, British Columbia Real Estate Market Data

Updated: Nov 2024

House

Median price $950,000
Monthly growth 0.8%
Quarterly trend 2.5%
Stock on market 0.5%

Apartment

Median price $450,000
Monthly growth 1.0%
Quarterly trend 3.0%
Stock on market 0.7%

Prices by Number of Bedrooms

Houses

Bedrooms Median Price
2 bedrooms $800,000
3 bedrooms $950,000
4 bedrooms $1,200,000

Apartments

Bedrooms Median Price
1 bedrooms $400,000
2 bedrooms $450,000
3 bedrooms $500,000

Demographics

Current Population (2025) 17,000
Previous Population (2020) 16,000
Population Change 6.3%
Total Private Dwellings 7,200
Occupied Private Dwellings 6,800
Population Density (per km²) 2.0
Land Area (km²) 2,500.5

Market Analysis





Naramata, British Columbia Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Naramata, British Columbia, is currently stable with a median house price of $950,000, reflecting a moderate year-over-year growth of 2.5%. This steady growth indicates a healthy demand for housing in the area. The apartment sector shows a slightly higher growth rate with median prices at $450,000 and a 3% increase over the past year. This may be attributed to a preference among some demographics for lower-maintenance living spaces or more affordable entry points into the housing market.

The population of Naramata stands at 17,000 and has seen an impressive growth rate of 6.25%. This influx of residents can be seen as a driving force behind the consistent demand for both houses and apartments in the region. The sustained population increase is likely contributing to the steady appreciation in property values as well.

Investment Opportunities and Potential

Given the current market trends and population growth, Naramata presents promising investment opportunities. The steady increase in property values suggests that investing in residential real estate could yield solid returns over time. The higher growth rate in apartment prices points towards potential for strong rental demand, offering attractive prospects for investors looking to enter the buy-to-let market.

Furthermore, with population numbers on the rise, there may be opportunities to invest in new construction projects to meet the growing housing demand. These projects could range from single-family homes to multi-unit residential buildings that could cater to various market segments.

Future Market Outlook

Looking ahead, Naramata’s real estate market appears poised for continued growth. As long as the population continues to expand at its current pace, demand for housing should remain robust. If economic conditions remain favorable and interest rates stable, both the house and apartment markets are likely to maintain their gradual upward trajectories.

However, investors and homebuyers should keep an eye on regional economic developments and potential policy changes that could impact mortgage rates or construction regulations. Such factors could alter the current trends. Overall, Naramata’s real estate market is showing positive signs that could benefit careful investors and informed homebuyers alike.