Ogden, 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 (2025) | 15,000 |
Previous Population (2020) | 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 Ogden, British Columbia, is currently experiencing steady growth. The median house price stands at $500,000, with a year-over-year price increase of 3.5%. This indicates a healthy demand for single-family homes, contributing to gradual appreciation in home values. On the other hand, the median apartment price is $300,000, which has seen a slightly smaller annual increase of 2.1%. The slower growth rate for apartments suggests that the market may be more sensitive to economic fluctuations or that the demand for multi-family units is less pronounced compared to single-family homes.
Ogden’s population has grown by 7.1%, reflecting an increasing demand for housing and a robust local economy that attracts new residents. This demographic expansion could potentially place further pressure on housing supply, leading to a competitive market environment for buyers.
Investment Opportunities and Potential
The consistent rise in property values coupled with significant population growth positions Ogden as an attractive location for real estate investment. Single-family homes present a compelling opportunity due to their higher appreciation rate. Investors may also find potential in the apartment sector, particularly if they are targeting long-term rental income; despite a lower growth rate in prices, rental demand is likely supported by the expanding population.
Additionally, with the influx of new residents and sustained property value increases, there could be opportunities in developing new residential projects or renovating existing properties to cater to the growing housing demand.
Future Market Outlook
Looking ahead, Ogden’s real estate market appears poised for continued growth. The strong population increase suggests that demand for housing will remain robust. Assuming economic conditions remain favorable and interest rates stable, both the house and apartment markets are likely to maintain their upward trends.
In conclusion, Ogden presents a promising scenario for investors and homebuyers alike. With careful analysis and strategic investment decisions, stakeholders can leverage the positive market dynamics to achieve favorable outcomes.