Vanderhoof, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $505,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 1.0% |
Apartment
| Median price | $295,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $505,000 |
| 4 bedrooms | $615,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $255,000 |
| 2 bedrooms | $355,000 |
| 3 bedrooms | $455,000 |
Demographics
| Current Population (2024) | 15,100 |
| Previous Population (2019) | 15,000 |
| Population Change | 0.7% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Vanderhoof, British Columbia, is experiencing stable growth, with the median house price currently at $505,000, marking a year-over-year increase of 4%. This steady uptick signals a healthy demand for single-family homes. Similarly, apartments are also showing growth, albeit at a slightly slower pace, with a median price of $295,000 and an annual appreciation of 2.5%. The population of Vanderhoof has reached approximately 15,100, with a modest growth rate of 0.7% per annum. This gradual population increase is contributing to sustained demand in the housing market.
Investment Opportunities and Potential
The real estate market in Vanderhoof presents promising opportunities for investors. The consistent growth in housing prices suggests that investment in residential properties could yield favorable returns. The relatively higher appreciation rate for houses compared to apartments indicates a potentially stronger demand for detached and semi-detached homes. Additionally, the ongoing population growth, while not rapid, does provide a stable foundation for long-term investment strategies, as it suggests a steady inflow of residents looking for housing over time.
Future Market Outlook
Looking ahead, the market outlook for Vanderhoof remains positive. The continued year-over-year price increases for both houses and apartments suggest that the real estate market is likely to maintain its upward trajectory. Given the current trends and assuming no significant economic disruptions occur, both property owners and investors can expect ongoing appreciation in property values. Moreover, if the town’s population continues to grow at its current rate or accelerates due to new economic drivers or regional developments, demand could further strengthen, leading to even more robust market conditions.
