Renfrewcollingwood, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $1,350,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $680,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $1,000,000 |
| 3 bedrooms | $1,350,000 |
| 4 bedrooms | $1,600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $600,000 |
| 2 bedrooms | $700,000 |
| 3 bedrooms | $850,000 |
Demographics
| Current Population (2024) | 17,500 |
| Previous Population (2019) | 16,800 |
| Population Change | 4.2% |
| Total Private Dwellings | 8,000 |
| Occupied Private Dwellings | 7,200 |
| Population Density (per km²) | 2.2 |
| Land Area (km²) | 3,500.0 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Renfrew-Collingwood, British Columbia, currently presents a stable environment with consistent growth patterns. With a median house price of $1,350,000, the area has experienced a 3% year-over-year increase. Meanwhile, apartments show a slightly lower growth rate, with the median apartment price sitting at $680,000 and a 2.5% year-over-year trend. These figures reflect a steadily appreciating market that is attractive to both homeowners and investors.
The population of Renfrew-Collingwood stands at approximately 17,500 residents, having seen a substantial growth of 4.2%. This demographic trend suggests increasing demand for housing in the region. The current supply and demand dynamics are leading to moderate price appreciation, which is expected to continue barring any unforeseen economic events.
Investment Opportunities and Potential
In terms of investment potential, Renfrew-Collingwood offers promising opportunities particularly within the residential sector. The consistent rise in property values coupled with robust population growth indicates that there is ongoing and potentially growing demand for housing. Investors considering long-term capital gains might find the single-family housing market especially attractive given the higher year-over-year price increase compared to apartments.
For those interested in rental properties or more affordable investment options, the apartment sector still presents a viable opportunity. With an upward trend in apartment prices and a significant population influx, rental demand is likely to remain strong. Consequently, investors could benefit from both rental income streams and capital appreciation over time.
Future Market Outlook
The future outlook for Renfrew-Collingwood’s real estate market appears positive. Assuming current trends persist, property values are poised to continue their gradual increase. The healthy population growth rate will likely sustain the need for additional housing, supporting both resale values and new development projects.
In light of these factors, potential investors should maintain confidence in the region’s real estate prospects. However, it remains vital for investors to conduct thorough due diligence and consider local zoning changes, infrastructure development plans, and economic indicators that may affect future market conditions.
Cautious optimism is advisable when projecting Renfrew-Collingwood’s market trajectory as global economic uncertainties can impact local markets. Nonetheless, based on current statistics and trends, this area holds strong potential for sustained growth and remains an attractive locale for real estate investments.
