Sidney, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $950,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $550,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $800,000 |
| 3 bedrooms | $950,000 |
| 4 bedrooms | $1,200,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $500,000 |
| 2 bedrooms | $700,000 |
| 3 bedrooms | $900,000 |
Demographics
| Current Population (2024) | 16,000 |
| Previous Population (2019) | 15,500 |
| Population Change | 3.2% |
| Total Private Dwellings | 6,500 |
| 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 Sidney, British Columbia, the real estate market is currently experiencing steady growth. The median house price stands at $950,000, which marks a year-over-year increase of 4%. The market for apartments is also showing a positive trend with the median apartment price reaching $550,000, reflecting a year-over-year growth of 2.5%.
This growth can be attributed to Sidney’s attractive lifestyle offerings and its status as a desirable location on Vancouver Island. With a relatively small population of approximately 16,000 residents which has grown by 3.2%, Sidney presents a tight-knit community feel while still being close to major urban centers like Victoria.
Investment Opportunities and Potential
Sidney’s real estate market presents significant investment opportunities. The consistent growth in property values indicates stability and confidence in the market. Investors looking to purchase residential properties can expect potential capital gains given the upward trend in house and apartment prices.
New development projects and the ongoing demand for rental properties due to population growth offer additional avenues for investors seeking income-generating assets. Sidney’s status as a retirement destination also suggests long-term potential for healthcare-related real estate investments.
Future Market Outlook
The outlook for Sidney’s real estate market remains positive. The continuous population growth coupled with limited land availability is likely to maintain upward pressure on property prices. While current trends suggest healthy growth rates, factors such as interest rates, economic stability, and regional development will influence future market conditions.
Investors and homebuyers should monitor local developments closely. Given the promising indicators, such as the current price trends and demographic expansion, Sidney is poised to continue as an active player in the British Columbia real estate landscape.
