Oweekeno, 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 (2024) | 15,000 |
| Previous Population (2019) | 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
In Oweekeno, British Columbia, the real estate market is currently experiencing steady growth. The median house price stands at $500,000, which marks a year-over-year increase of 3.5%. This increment indicates a stable market that is growing at a moderate pace. The median apartment price is slightly lower at $300,000, with a slower growth trend of 2.1% year-over-year. This difference in growth rates suggests that houses are in higher demand than apartments, potentially due to buyer preferences or local market dynamics.
Investment Opportunities and Potential
The consistent growth in housing prices coupled with the robust population increase of 7.1% presents significant investment opportunities in Oweekeno. Investors may find single-family homes particularly attractive, given their stronger appreciation trend. With a population of 15,000 and rising, there is potential for increased rental demand, which could benefit those looking to invest in apartment complexes or multi-family units. Additionally, the steady increment in property values provides investors with the opportunity for capital gains over the medium to long term.
Future Market Outlook
The future real estate market outlook for Oweekeno remains positive. Expectations are that the trend of population growth will continue to drive demand for housing in both the purchase and rental markets. Assuming economic conditions remain favorable and no significant changes occur that could impact the local economy or housing policies, the property market in Oweekeno should maintain its gradual upward trajectory. Investors and homebuyers can be cautiously optimistic about entering the market, keeping an eye on economic indicators that could signal shifts in these trends.
