Walhachin, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,300 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Walhachin, British Columbia, is experiencing a period of steady growth, as indicated by the median house price of $520,000, which has increased by 4% year-over-year. This suggests a healthy demand for housing in the area. The apartment market is also showing positive momentum with a median price of $310,000, and a slightly slower growth trend at 2.5% year-over-year. This growth can be attributed to the sustained population increase of 3.3%, which has brought the population to approximately 15,500 residents.
Investment Opportunities and Potential
Given the steady appreciation in property values, Walhachin presents attractive investment opportunities for both residential and buy-to-let investors. The consistent increase in housing prices indicates a stable investment environment with potential for long-term capital gains. Apartments, with their lower entry price point and solid growth rate, offer an appealing option for investors targeting rental income in a growing market. Additionally, demographic trends, such as population growth, suggest that there will be an ongoing demand for rental properties.
Future Market Outlook
The future outlook for Walhachin’s real estate market remains optimistic. The continuous population growth implies an increasing demand for housing which may lead to further price appreciation. However, investors should also consider macroeconomic factors and regional developments that could impact the market dynamics. For instance, interest rate changes or significant economic shifts could influence buyer affordability and thus affect property values. Nevertheless, current trends indicate that Walhachin is poised for continued growth in both the short and long term.
