Revelstoke, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $530,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
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 | $530,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 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 in Revelstoke, BC
In Revelstoke, British Columbia, the real estate market is experiencing steady growth. The median house price in the area is currently at $530,000, which reflects a year-over-year increase of 4%. This growth suggests a healthy demand for single-family homes. Additionally, the median apartment price stands at $310,000, with a slightly lower year-over-year appreciation of 2.5%. The different growth rates between houses and apartments may indicate a more significant demand and better market performance for detached homes.
Backed by a growing population that has seen an increase of 3.3% recently, now reaching around 15,500 residents, the market’s upward trend is supported by an expanding local economy. The influx of new residents likely contributes to the steady demand for housing in Revelstoke.
Investment Opportunities and Potential in Revelstoke, BC
Revelstoke presents several promising investment opportunities within its real estate market. Given the consistent appreciation of property values for both houses and apartments, investors can expect potential capital gains over time. Single-family homes offer a higher growth rate, which might be more attractive to those looking for quicker equity growth. Meanwhile, apartments offer a more affordable entry point into the market and may be ideal for investors focusing on rental income streams.
The sustained population growth further enhances the region’s investment attractiveness as it ensures ongoing demand for rental properties. This scenario is ideal for investors aiming to expand their portfolio with long-term rental units or vacation properties that capitalize on Revelstoke’s status as a year-round tourist destination.
Future Market Outlook for Revelstoke, BC
The future outlook of Revelstoke’s real estate market remains positive. Continued population growth will likely maintain pressure on housing supply, potentially leading to further increases in property values. The consistent trend in property price appreciation indicates that Revelstoke will remain an attractive spot for both living and investing.
The city’s economic development strategies aim to diversify local industries and enhance infrastructure which could attract new businesses and residents alike—factors that traditionally fuel real estate markets. Assuming these trends continue alongside responsible municipal planning and development, Revelstoke’s real estate market should remain robust with promising prospects for potential investors.
All these factors combined suggest that those considering entering the Revelstoke real estate market—whether as homeowners or investors—can do so with reasonable confidence in its stability and growth potential.
