Ruskin, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $899,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.6% |
Apartment
| Median price | $450,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $750,000 |
| 3 bedrooms | $899,000 |
| 4 bedrooms | $1,100,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $400,000 |
| 2 bedrooms | $450,000 |
| 3 bedrooms | $550,000 |
Demographics
| Current Population (2024) | 16,000 |
| Previous Population (2019) | 15,500 |
| Population Change | 3.2% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Ruskin, British Columbia is currently experiencing a period of moderate growth. The median house price in the area stands at $899,000, which represents a year-over-year increase of 2.8%. This steady climb in housing prices indicates a healthy demand for single-family homes in the region. Similarly, the median apartment price has seen a more modest growth of 1.5% year-over-year, reaching $450,000. The sustained growth in both housing segments suggests that the market is stable and growing at a sustainable pace.
Investment Opportunities and Potential
With a population of 16,000 and an above-average population growth rate of 3.2%, Ruskin is exhibiting signs of expansion that may appeal to investors looking for long-term opportunities. The consistent increase in property values points to a robust investment potential, especially for those interested in purchasing residential properties for rental or resale. The positive trend in apartment prices also presents an avenue for investors focused on the multi-family dwelling sector. In addition to residential properties, the population growth may lead to increased demand for commercial and mixed-use developments, further diversifying investment prospects within the area.
Future Market Outlook
The future outlook of Ruskin’s real estate market appears promising. Given the current trends and population dynamics, it is reasonable to expect that property values will continue to rise at a steady rate. The ongoing population increase should drive demand for housing across all segments, potentially leading to tighter inventory levels and further upward pressure on prices. Investors and homebuyers looking at Ruskin should remain cautiously optimistic as the market demonstrates solid fundamentals but should also be mindful of economic factors that could influence regional growth such as employment rates and infrastructure developments.
