Sicamous, British Columbia Real Estate Market Data
Updated: Nov 2024
House
Median price | $510,000 |
Monthly growth | 1.1% |
Quarterly trend | 3.8% |
Stock on market | 0.9% |
Apartment
Median price | $315,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.5% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $510,000 |
4 bedrooms | $620,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $260,000 |
2 bedrooms | $360,000 |
3 bedrooms | $460,000 |
Demographics
Current Population (2025) | 15,200 |
Previous Population (2020) | 14,900 |
Population Change | 2.0% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,700 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Sicamous, British Columbia, is currently experiencing a period of moderate growth. The median house price stands at $510,000, marking a 3.8% year-over-year increase. This uptick in pricing reflects a steady demand for residential properties within the area. Similarly, the apartment segment has seen a growth trend with the median apartment price reaching $315,000, which is a 2.5% increase compared to the previous year.
The local market conditions are influenced by several factors including the area’s natural beauty, its reputation as a recreational haven, and its relatively affordable housing options compared to major urban centers. The population of Sicamous has been growing at a rate of 2%, which suggests an expanding community and potential for increased housing demand.
2. Investment Opportunities and Potential
Given the steady growth in property values and the increasing population, Sicamous presents various investment opportunities. The modest year-over-year price increases indicate a market that is ripe for investors looking for long-term capital appreciation without the volatility seen in larger markets.
The demand for apartments in particular could be an area of interest for investors, as their lower entry price point and 2.5% growth trend suggest that this segment might be particularly attractive to first-time homebuyers or individuals looking to downsize.
Moreover, Sicamous’ growing reputation as a lifestyle destination could bolster short-term rental investments as tourism continues to flourish. Investors would thus be well-advised to consider both residential and vacation rental properties in their portfolio.
3. Future Market Outlook
The future outlook for Sicamous’ real estate market appears promising. Assuming that current trends continue, including population growth and interest from both primary residents and recreational property seekers, we can anticipate further gradual increases in property values.
The ongoing development of local infrastructure and community amenities is likely to enhance the attractiveness of Sicamous as a place to live and invest in. However, it is important for potential investors to monitor economic drivers such as employment rates and regional developments that could impact the market dynamics.
In summary, Sicamous offers a stable environment with potential for sustained growth making it an appealing option for both homeowners and investors alike. As always, due diligence and attention to broader economic indicators will be key in making informed investment decisions.