Quilchena, British Columbia Real Estate Market Data
Updated: Nov 2024
House
Median price | $1,200,000 |
Monthly growth | 1.1% |
Quarterly trend | 2.9% |
Stock on market | 0.6% |
Apartment
Median price | $800,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.4% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $950,000 |
3 bedrooms | $1,200,000 |
4 bedrooms | $1,450,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $650,000 |
2 bedrooms | $800,000 |
3 bedrooms | $950,000 |
Demographics
Current Population (2025) | 20,000 |
Previous Population (2020) | 19,500 |
Population Change | 2.6% |
Total Private Dwellings | 8,000 |
Occupied Private Dwellings | 7,500 |
Population Density (per km²) | 2.5 |
Land Area (km²) | 3,200.0 |
Market Analysis
Current Market Conditions and Trends
In Quilchena, British Columbia, the real estate market is currently experiencing moderate growth. The median house price in the area is $1,200,000, with a year-over-year increase of 2.9%. This steady rise indicates a healthy demand for single-family homes. Meanwhile, apartments are also seeing a positive trend, with a median price of $800,000 and an annual growth rate of 2.4%. These figures reflect a consistent demand for more affordable and lower-maintenance living options in Quilchena.
The population of Quilchena is around 20,000 residents, with a growth rate of 2.6%. This expansion suggests that the area is attracting new residents at a pace that should sustain the current upward trend in housing demand.
Investment Opportunities and Potential
The investment opportunities in Quilchena’s real estate market are promising due to the steady growth in both housing prices and population. The continuous increase in property values points to strong capital appreciation potential for investors. Single-family homes, with their higher year-over-year price increase, could be particularly attractive to those looking for stable long-term investments.
Apartments offer an alternative investment opportunity with slightly lower price increases but also potentially higher turnover rates and rental yield possibilities. As more people move to Quilchena, demand for rental properties may increase, which could lead to higher rental income for investors targeting the apartment sector.
Future Market Outlook
The outlook for Quilchena’s real estate market remains optimistic. Given the steady population growth and sustained increase in property values, it is reasonable to expect that these trends will continue in the near future. Economic stability and continued interest in the region as a place to live and work will likely support ongoing property value appreciation.
However, prospective buyers and investors should monitor local economic developments and changes in housing policies that could affect market dynamics. Additionally, paying attention to broader national economic trends will be essential, as shifts in interest rates or mortgage regulations can impact buyer affordability and influence market conditions.
In conclusion, Quilchena’s real estate market offers solid opportunities for both homebuyers and investors looking for growth potential in a thriving community.