Othello, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 3.8% |
| Stock on market | 0.6% |
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 | $450,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $630,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 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 Othello, British Columbia, is currently experiencing moderate growth. With the median house price at $520,000 and showing an upward trend of 3.8% year-over-year, the market is proving to be resilient. Similarly, the median apartment price has increased to $310,000, following a 2.5% year-over-year trend. These figures suggest a steady demand in housing that is slightly outpacing supply.
Othello’s population has grown by 3.3%, now standing at 15,500 residents. This growth indicates a burgeoning community with potential for further expansion in residential needs. The sustained population increase parallels the steady rise in property values, hinting at a healthy market with continued buyer interest.
Investment Opportunities and Potential
Growth indicators such as rising property values and population increases suggest that Othello presents viable investment opportunities. The consistent uptick in median house and apartment prices implies that investments made now could yield substantial returns as the market continues to grow.
Investors may find opportunities in single-family homes, given their higher appreciation rate compared to apartments. Additionally, the growing population may increase rental demand, making rental properties a potentially lucrative investment. Developers might also see potential in constructing new residential units to meet the increasing housing demand driven by the population growth.
Future Market Outlook
The future real estate market outlook for Othello appears positive. If current trends persist, including the steady population growth and property value increases, the market is likely to maintain its upward trajectory. It is crucial for investors to note that external economic factors and changes in government policies could impact these predictions.
Continued infrastructure development and community investments could further enhance the attractiveness of Othello’s real estate market. Prospective buyers and investors should keep an eye on both local developments and broader economic indicators to make informed decisions aligned with long-term market expectations.
