Pemberton, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $950,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| Stock on market | 0.5% |
Apartment
| Median price | $550,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $800,000 |
| 3 bedrooms | $950,000 |
| 4 bedrooms | $1,100,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $500,000 |
| 2 bedrooms | $600,000 |
| 3 bedrooms | $700,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,500 |
| Occupied Private Dwellings | 6,000 |
| Population Density (per km²) | 1.8 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Pemberton, British Columbia, is currently experiencing steady growth. With a median house price of $950,000, the market has seen a year-over-year increase of 4.2%. Apartments are also showing continued growth with a median price of $550,000 and a slightly lower year-over-year trend of 2.5%. The population of Pemberton stands at 15,000 and has been growing at a rate of 3.4%, which suggests an increasing demand for housing in the area.
The consistent uptick in property values indicates a healthy market condition that is attractive to both homeowners and investors alike. The demand for housing is likely influenced by factors such as the town’s picturesque location, amenities, and its proximity to bigger markets like Vancouver.
Investment Opportunities and Potential
In terms of investment opportunities, Pemberton presents potential due to its strong population growth and consistent property value increases. The rising median prices for both houses and apartments reflect a robust market that could lead to appreciable capital gains over time. Investors considering Pemberton should note the higher percentage increase in house prices compared to apartments, potentially indicating greater long-term value growth in detached homes.
For those interested in rental investments, the growing population suggests there may be a continuous need for rental accommodations, which could result in favorable rental yields. However, investors should conduct thorough research on local rental laws and market rental rates to ensure profitability.
Future Market Outlook
The future outlook for Pemberton’s real estate market remains optimistic. The ongoing population growth paired with moderate yet steady increases in property values points towards sustained demand. If these trends continue along with healthy economic conditions locally and provincially, Pemberton could maintain its upward trajectory in the real estate sector.
Investors and potential homebuyers should monitor key factors such as interest rates, employment rates within the region, and any significant infrastructure developments that could further impact the desirability of the area. Staying informed will be crucial to making strategic real estate decisions in this scenic part of British Columbia.
