Warfield, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $550,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $550,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $270,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Warfield, British Columbia, is experiencing steady growth as evidenced by the current data. The median house price sits at $550,000, which represents a 4% year-over-year increase. This suggests a healthy demand for residential property and a competitive market environment. Similarly, apartments are seeing a rise in value with the median price at $320,000 and a growth trend of 2.5% year-over-year.
Warfield’s population has grown to 15,500 residents, with a noticeable population growth rate of 3.3%. This demographic trend is above average and can contribute to the continued demand for housing in the area. The increasing population, along with rising property values, indicates an active market with potential for further expansion.
Investment Opportunities and Potential
With the current growth rates in both housing and population, Warfield presents appealing investment opportunities. The steady increase in house prices suggests that purchasing residential real estate could yield profitable returns over time. Investors should especially note that houses have experienced a higher appreciation rate compared to apartments, indicating potentially higher gains in the single-family home segment.
The ongoing population growth not only supports the existing housing market but also implies future needs for development and infrastructure. This opens up possibilities for investors interested in new construction projects or renovations of existing properties to meet the evolving demands of the growing community.
Future Market Outlook
The forward-looking indicators such as consistent property value appreciation and robust population growth give a positive outlook for Warfield’s real estate market. If these trends persist, investors can expect continued appreciation in property values. A 4% annual increase in house prices points towards sustainable growth without indications of an overheated market.
However, potential investors and homeowners should remain vigilant about broader economic conditions that could affect interest rates and borrowing costs. Monitoring local developments in infrastructure and employment will also be crucial for accurately forecasting the market’s trajectory.
In conclusion, Warfield’s real estate sector appears poised for ongoing growth with promising opportunities for investment. The key will be to navigate this dynamic market with an informed strategy that takes into account both current conditions and future projections.
