Renata, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
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 | $450,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Renata, British Columbia
In Renata, the real estate market is currently experiencing steady growth. The median house price stands at $520,000, which represents a year-over-year increase of 4%. This indicates a healthy demand for housing and a strong market for sellers. Similarly, the median apartment price has seen an upward trend, sitting at $320,000 with a 2.5% rise from the previous year. The population of Renata has reached 15,200 residents and is growing at a rate of 2.7%, which is relatively high and suggests potential for ongoing demand in the housing market. This demographic trend is likely contributing to the consistent appreciation in property values.
Investment Opportunities and Potential in Renata
The positive trends in both the housing and apartment markets point to robust investment opportunities in Renata. Given that both segments are appreciating steadily, investors could benefit from capital gains over time. Rental properties also hold promise due to the increasing population, implying a rising demand for rental units. Investors should consider both long-term appreciation and rental yield when evaluating potential returns on investment in this region. The consistent growth pattern suggests that investing now could secure gains aligned with or above current trends, particularly if Renata continues to attract new residents.
Future Market Outlook for Renata’s Real Estate
The future market outlook for Renata appears optimistic based on current data and trends. With a solid population growth rate of 2.7%, the demand for housing is expected to remain strong. This demographic momentum can lead to sustained or increased property value appreciation over time. Assuming no significant economic disruptions occur, it’s reasonable to project that the real estate market in Renata will maintain its upward trajectory across both houses and apartments. However, investors should monitor local economic developments, zoning laws changes, and infrastructure projects that could positively or negatively impact future real estate values.
