Peachland, 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
1. Current Market Conditions and Trends
The real estate market in Peachland, British Columbia is currently experiencing a steady growth in property values. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes in the area. In contrast, the median apartment price is $300,000, growing at a slightly lower rate of 2.1% year-over-year. The difference in growth rates between houses and apartments may suggest that families or individuals looking for more space and privacy are driving the market.
Peachland’s population has seen a significant uptick, growing at 7.1%, which is likely contributing to the demand for housing and bolstering property values. This demographic trend suggests that Peachland is an attractive destination for new residents, possibly due to its lifestyle offerings or economic opportunities.
2. Investment Opportunities and Potential
The solid growth in Peachland’s real estate values offers promising investment opportunities. With the median house price appreciating at a stable rate, investors might consider single-family homes as long-term investments that could yield considerable returns through both capital gains and rental income.
Given the slower growth rate of apartment prices, there is potential for investors to enter this market segment at a more accessible price point. However, it may cater to a different type of renter, such as young professionals or small families who prioritize affordability and convenience over space.
The population growth also presents opportunities for development projects aimed at meeting the increased housing demand. This positive demographic trend can drive both residential and commercial real estate developments.
3. Future Market Outlook
The future outlook for Peachland’s real estate market appears optimistic. Continuous population growth implies sustained demand for housing which will likely maintain upward pressure on property values over time. Assuming no significant economic disruptions occur, the current trends indicate a steady rise in both house and apartment prices.
In light of these factors, Peachland’s real estate market shows promise for investors seeking growth as well as stability. Prospective buyers should be aware of the competitive nature of the market due to high demand; thus, acting decisively when opportunities arise will be crucial to securing investments with good potential. Regular monitoring of market conditions will remain important for making informed decisions moving forward.
