Wellington, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
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 | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
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 Wellington, British Columbia, currently shows a steady growth trajectory. With a median house price of $525,000 and witnessing a 4% year-over-year increase, the housing sector indicates robust health. Similarly, the apartment market is experiencing growth with a median price of $310,000, which has risen by 2.5% from the previous year.
The population of Wellington stands at 15,500 with a notable population growth rate of 3.3%, which is higher than many other regions. This demographic expansion is driving demand for housing and contributing to the steady appreciation in property values.
Investment Opportunities and Potential
Wellington offers an array of investment opportunities within its real estate market. Given the consistent rise in property values, investors can expect capital gains over time. The median house price point positions Wellington as an accessible market for both first-time homebuyers and seasoned investors looking for long-term investments.
Apartments are another attractive option for investors due to their lower entry cost and appeal to singles, couples, or small families. With the growth trend in apartment prices being slightly more moderate compared to houses, investors might find this segment particularly appealing for rental income opportunities while still benefiting from gradual property appreciation.
Future Market Outlook
The future outlook for Wellington’s real estate market remains optimistic. The steady population growth suggests continued demand for housing, which should support ongoing property value increases. However, it is important to monitor economic factors such as employment rates, interest rates, and regional development projects that could impact the market dynamics.
Given current trends and assuming stable economic conditions continue, Wellington’s real estate market is poised to remain an attractive area for both living and investing. Nevertheless, potential investors should conduct thorough due diligence and consider seeking advice from local real estate professionals before entering the market.
