Phoenix, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $550,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $460,000 |
| 3 bedrooms | $550,000 |
| 4 bedrooms | $670,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
Phoenix, British Columbia is experiencing a healthy real estate market characterized by steady growth. With a median house price currently at $550,000, the market has seen a 4.2% year-over-year increase. Apartments in Phoenix also reflect positive growth, with a median price of $320,000, following a 2.5% year-over-year uptrend. This consistent appreciation in property values indicates that Phoenix’s real estate market is robust and growing at a sustainable pace.
The population of Phoenix has reached approximately 15,000 residents and is expanding at a rate of 3.4%. This population growth can be attributed to Phoenix’s economic opportunities, quality of life, and attractiveness to both young professionals and retirees. The influx of new residents is creating additional demand for housing, which is supporting the upward trend in property values.
Investment Opportunities and Potential
Investors looking into the Phoenix real estate market will find potential due to the area’s steady price increases and population growth. The rising median house and apartment prices suggest that investments in residential properties could yield respectable returns over time. Rental properties are likely to be in high demand due to the increasing population, potentially providing investors with strong rental yields as well as long-term capital gains.
Moreover, as the region continues to develop economically, there may be opportunities in commercial real estate as businesses seek to cater to the growing community. Investors should consider diversifying their portfolio with both residential and commercial assets in Phoenix to optimize potential returns.
Future Market Outlook
Looking forward, the Phoenix real estate market appears poised for continued growth. Population trends indicate an ongoing influx of residents that will drive housing demand. If current economic conditions prevail, the market should maintain its upward trajectory with respect to property values.
However, investors must also stay informed about regional economic developments and any changes in local government policies that could impact the real estate market. Monitoring interest rates and mortgage availability will also be crucial since these factors significantly influence buyers’ purchasing power.
In conclusion, while no market is without risk, Phoenix presents promising opportunities for those looking to invest in real estate over the long term. Continued vigilance on market conditions will be key for investors seeking to capitalize on this growing British Columbian community.
