Oliver, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| 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 | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $480,000 |
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 Oliver, British Columbia is currently experiencing a steady increase in prices. The median house price in the region stands at $520,000, marking a year-over-year growth of 4%. This indicates a healthy demand for single-family homes, likely driven by both local buyers and those looking to move into the area. In contrast, the apartment sector is seeing a more modest increase in value, with a median price of $320,000 and an annual appreciation trend of 2.5%. With these trends, Oliver is showing signs of a balanced market that caters to various types of buyers and investors.
Investment Opportunities and Potential
For investors considering Oliver’s real estate market, the consistent price growth in both housing types suggests stable investment opportunities. Single-family homes present a higher potential for capital gains due to their stronger price trend. However, apartments offer a more accessible entry point into the market with their lower median price and could be particularly attractive for rental investments given the ongoing population growth. With the population increasing at a rate of 3.3%, demand for rental properties is expected to rise, potentially driving up rental yields over time.
Future Market Outlook
The future outlook for Oliver’s real estate market appears positive. The town’s population has been growing steadily at 3.3%, signaling ongoing demand for housing as new residents settle in the area. Assuming this trend continues, the market may see sustained increases in property values across all segments. Moreover, if national economic conditions remain favorable and interest rates stable, Oliver could benefit from increased investor confidence and more robust buyer activity. While unforeseen macroeconomic factors can always sway market dynamics, current indicators suggest that Oliver’s real estate market is poised for continued growth.
