Rayleigh, 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 (2024) | 15,000 |
| Previous Population (2019) | 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
Current Market Conditions and Trends
The real estate market in Rayleigh, British Columbia is currently experiencing steady growth. With a median house price of $500,000 and an annual appreciation trend of 3.5%, the market demonstrates healthy demand for single-family homes. Similarly, the apartment sector is also showing positive movement with a median price point of $300,000 and an appreciation rate of 2.1% year-over-year.
The population in Rayleigh has grown to 15,000 residents, marking a significant increase of 7.1%. This demographic expansion suggests a robust and growing community that is likely driving the housing demand upward. The consistent growth in property values indicates a stable market that has potential for continued appreciation.
Investment Opportunities and Potential
Given the data on market trends and population growth, Rayleigh presents itself as an attractive location for real estate investment. The steady increase in house prices points towards a sustained demand that investors could capitalize on. Single-family homes, with their higher year-over-year appreciation rate compared to apartments, may offer greater potential for capital gains in the long term.
Apartments are not to be overlooked; with a 2.1% price increase year-over-year and a lower entry price point than houses, they represent an accessible investment opportunity with potential for rental income and appreciation.
Investors should also consider the implications of the area’s population growth. As more people are drawn to Rayleigh, there will likely be increased demand for various types of housing, from rentals to owner-occupied homes. This provides diverse opportunities for investors to cater to different segments of the market.
Future Market Outlook
The future outlook for Rayleigh’s real estate market remains optimistic. Population growth is often a precursor to increased housing demand, which can lead to further price appreciation and development opportunities. If current trends continue, investors can reasonably expect ongoing market stability and growth potential.
However, it is important to monitor external economic factors that could influence interest rates, employment levels, and overall affordability in the region. Careful analysis of these elements will be crucial for making informed decisions about long-term investments in Rayleigh’s real estate market.
