Salmo, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Salmo, British Columbia, the real estate market is currently experiencing a steady growth, with the median house price sitting at $500,000, marking a year-over-year increase of 3.5%. This growth rate indicates a healthy demand for housing in the area. Meanwhile, the median apartment price is slightly lower at $300,000, with a slower yet positive year-over-year growth of 2.1%. These statistics suggest that while houses are in demand, apartments offer a more accessible entry point into the real estate market for many buyers.
Investment Opportunities and Potential
The current trends reveal several investment opportunities within Salmo’s real estate market. The consistent growth in house prices suggests that purchasing residential properties could yield profitable returns for investors looking for long-term capital gains. Additionally, with a population of 15,000 and a notable population growth rate of 7.1%, there is potential for increased rental demand. This demographic trend can be advantageous for investors seeking to own rental properties or develop new housing units to cater to the expanding local community.
Future Market Outlook
The future market outlook for Salmo appears promising. The continued population growth coupled with sustained increases in property values suggests that the demand for housing will likely remain strong. Assuming that economic conditions remain stable and interest rates are favorable, the real estate market in Salmo is poised for ongoing expansion. Investors with an eye on long-term horizons may find this market particularly appealing as it presents opportunities for both capital appreciation and rental income streams.
