Redstone, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Redstone, British Columbia is currently experiencing steady growth. The median house price stands at $520,000, which reflects a year-over-year increase of 4%. This growth rate indicates a healthy demand for housing while still remaining accessible to a considerable segment of potential homebuyers. Similarly, the median apartment price has reached $310,000, with a slightly lower growth rate of 2.5% year-over-year. This slower pace in the apartment sector suggests that there may be a higher demand for single-family homes or that the apartment market is experiencing more moderate gains.
Investment Opportunities and Potential
The investment potential in Redstone’s real estate market appears promising, especially considering the population has grown by 3.3%, now totaling 15,500 residents. This demographic trend often correlates with increased demand for housing, both for purchase and rent. Investors may find opportunities in purchasing residential properties to cater to this expanding population or by developing new housing projects that align with the growing need for accommodation.
Future Market Outlook
Looking ahead, the future market outlook for Redstone remains optimistic. The consistent population growth paired with the sustained rise in property values suggests that the real estate market is poised for continued expansion. If these trends maintain their course, investors and homeowners alike could witness further appreciation in property values over time. Nonetheless, it is important for stakeholders to keep an eye on economic factors that could affect the market, such as changes in employment rates or regional developments that could influence supply and demand dynamics.
