Stewart, 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 Stewart, British Columbia
The real estate market in Stewart, British Columbia is exhibiting notable stability and modest growth. The median house price in the area currently stands at $500,000, with a year-over-year increase of 3.5%. This trend reflects a healthy demand for single-family homes, which is likely supported by the region’s growing economy and appealing natural environment.
Apartments in Stewart are also experiencing a positive trajectory with the median apartment price at $300,000 and an increase of 2.1% over the past year. This suggests that smaller residential units are in demand, possibly due to an influx of professionals and smaller households looking for affordable housing options.
Stewart’s population has grown to approximately 15,000, with a significant growth rate of 7.1%. Such population growth is often a precursor to increased demand for housing, suggesting that the current trends may continue or even strengthen as the local economy expands and attracts more residents.
Investment Opportunities and Potential in Stewart, British Columbia
In light of current market conditions, investment opportunities appear promising in Stewart. For one, the steady increase in housing prices indicates that purchasing property could yield solid returns over time. The combination of population growth and rising property values may present lucrative opportunities for both residential development projects and buy-and-hold investment strategies.
The more moderate price appreciation seen in apartments compared to houses suggests an untapped potential for investors interested in targeting the affordable housing segment. Given the growing population and diversity thereof, investing in multi-unit residential properties could meet an existing market need while also offering sustained rental income streams.
Future Market Outlook for Stewart, British Columbia
The future real estate market outlook for Stewart appears optimistic. The consistent upward trend in house and apartment prices combined with robust population growth positions Stewart as an emergent market with potential for further development.
If current economic drivers persist—such as investment in local industries or infrastructure improvements—the real estate market is likely to benefit from increased demand. Moreover, if regional policies continue to support growth and attract new residents or businesses to the area, property values may see a continued upward trajectory.
However, it is important for investors and stakeholders to monitor regional economic trends closely as well as national policy changes that could affect mortgage rates or investment incentives. With careful consideration given to these factors, stakeholders can make informed decisions about participating in Stewart’s real estate market.
