Ogden, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
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
The real estate market in Ogden, British Columbia, currently presents a steady growth pattern. The median house price stands at $525,000, reflecting a year-over-year increase of 4.2%. This indicates a healthy demand for single-family homes in the area and a market that is appreciating at a moderate pace. The median apartment price has also seen a rise, currently priced at $315,000, which marks a 2.5% increase from the previous year. Such growth is supportive of an overall positive trend in the local real estate market.
With a population of 15,500 and a growth rate of 3.3%, Ogden is experiencing demographic expansion that may contribute to increased housing demand. This population uptick is likely to sustain and potentially accelerate the current upward trajectory of property values.
Investment Opportunities and Potential
The investment landscape in Ogden appears promising given the solid growth figures in the housing sector. The consistent appreciation in both house and apartment prices suggests that investments in residential properties have the potential for capital gains over time.
Investors looking to capitalize on rental income may also find opportunities here, as population growth often correlates with higher rental demand. With more people moving to Ogden, there could be an increased need for both rental houses and apartments, providing investors with various options to diversify their portfolios.
The stable increase in property values without signs of overheating provides an attractive environment for long-term investment strategies. However, as with any real estate investment, potential buyers should conduct thorough due diligence and consider local economic factors that might affect future market conditions.
Future Market Outlook
The future outlook for Ogden’s real estate market remains optimistic given current trends and demographic data. If the population continues to grow at the reported rate of 3.3%, housing demand will likely persist, potentially pushing prices upward.
While past performance does not guarantee future results, the steady growth rate in property values over recent years provides some confidence for continued appreciation. Nonetheless, external economic forces and changes in interest rates can impact local markets significantly; therefore, it’s crucial for investors and homebuyers to stay informed about both local and national economic indicators that could affect the real estate market in Ogden.
In conclusion, Ogden’s real estate market exhibits favorable conditions with indications of sustained growth and investment potential. Caution should always be exercised when entering any real estate market, but current data points towards positive trends for those looking to invest or settle in the area.
