Saltair, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $590,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
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 | $480,000 |
| 3 bedrooms | $590,000 |
| 4 bedrooms | $700,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $270,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Saltair, British Columbia, the real estate market exhibits a steady growth trajectory. The current median house price stands at $590,000, reflecting a year-over-year increase of 4%. This consistent appreciation indicates a robust demand for single-family homes in the area. Similarly, the median price for apartments has seen an uptick to $320,000, with a slightly lower yet positive growth rate of 2.5% year-over-year. These trends are underpinned by a growing population, currently at 15,500 residents, which has expanded by 3.3% recently. This demographic growth suggests sustained demand for housing which could continue to support property value increases.
Investment Opportunities and Potential
The investment landscape in Saltair presents attractive opportunities underpinned by the region’s stable price appreciation. For residential investors, the consistent rise in house prices may signal the potential for solid capital gains over the medium to long term. Rental properties also offer viability, given the population growth and subsequent housing demand. Commercial real estate investors could benefit from population-driven demand for services and amenities. The steady market conditions make Saltair an appealing option for diversification within real estate portfolios or for first-time investors seeking entry into property markets with reasonable entry points and growth prospects.
Future Market Outlook
Looking ahead, Saltair’s real estate market is poised to maintain its upward momentum. The combination of a burgeoning population and continuous year-over-year property value increases lays a strong foundation for future growth. However, investors and potential homebuyers should stay informed about broader economic factors such as interest rates, employment levels, and regional development projects that could influence market dynamics. If current trends persist, Saltair’s property market is likely to provide fruitful opportunities both in terms of capital appreciation and income generation through rental investments.
