Panorama, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $750,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.5% |
Apartment
| Median price | $400,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 3.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $650,000 |
| 3 bedrooms | $750,000 |
| 4 bedrooms | $850,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $350,000 |
| 2 bedrooms | $420,000 |
| 3 bedrooms | $500,000 |
Demographics
| Current Population (2025) | 16,000 |
| Previous Population (2020) | 15,500 |
| Population Change | 3.2% |
| Total Private Dwellings | 7,000 |
| Occupied Private Dwellings | 6,500 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Panorama, British Columbia is currently experiencing stable growth. With a median house price of $750,000 and a year-over-year increase of 4.2%, the market is showing healthy appreciation. The median apartment price stands at $400,000, which has seen a slightly slower growth rate of 3% over the past year. This indicates a more moderate but steady investment landscape for potential buyers looking into condominiums or multifamily units.
The population in Panorama is currently around 16,000 with a robust growth rate of 3.2%. This demographic expansion signals a rising demand for housing in the area. As new residents move in, whether for employment opportunities or the appealing lifestyle that Panorama offers, the need for both rental and owner-occupied properties is likely to increase.
Investment Opportunities and Potential
Considering the steady increase in property values, investing in Panorama’s real estate could be promising. The consistent uptick in housing prices suggests that purchasing residential property now could yield considerable returns as market values continue to climb. The stronger performance of house price trends compared to apartments may appeal to investors interested in single-family homes as a long-term investment.
With the population poised to grow further, rental properties also present an attractive opportunity. Investors could potentially benefit from both capital appreciation and rental income, particularly if they target properties that cater to the needs of the growing community, such as family-sized homes or units close to local amenities and employment hubs.
Future Market Outlook
The future real estate market outlook for Panorama, British Columbia remains positive. The combination of ongoing population growth and consistent property value increases point towards a continuing upward trajectory for the housing market. If these trends persist, investors can reasonably expect sustained demand leading to strong rental markets and appreciating asset values.
Cautious optimism is advised as external factors such as economic conditions, interest rates, and government policies can impact market dynamics. However, given current indicators, Panorama’s real estate market appears poised for continued growth and presents an inviting landscape for both residential buyers and real estate investors alike.
