Wellington, 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 (2025) | 15,000 |
| Previous Population (2020) | 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
1. Current Market Conditions and Trends
The real estate market in Wellington, British Columbia, is currently experiencing moderate growth. With the median house price at $500,000 and exhibiting a year-over-year increase of 3.5%, the market is showing healthy appreciation. Similarly, the median apartment price stands at $300,000, with a more modest growth trend of 2.1% year-over-year. This suggests that while the market is growing, it is doing so at a sustainable pace.
The town’s population has seen a significant increase of 7.1%, which could be contributing to the steady demand for housing. This demographic trend often correlates with increased economic activity and potentially more interest in both residential and investment property purchases.
2. Investment Opportunities and Potential
The ongoing population growth in Wellington presents clear investment opportunities—particularly in expanding residential inventory to meet the rising demand. Investors might consider capitalizing on this growth by investing in properties that are likely to appreciate, such as single-family homes or apartments catering to new residents.
The steady appreciation in property values suggests a stable investment environment with potential for long-term capital gains. Additionally, rental properties may also offer attractive returns given the increasing population and consequent housing demand.
3. Future Market Outlook
The future outlook for Wellington’s real estate market appears positive, with continued population growth likely to drive demand for housing. If current trends persist, investors and homeowners can expect ongoing property value appreciation at a measured pace.
It’s crucial for stakeholders to monitor external economic factors that could influence mortgage rates, employment levels, and broader economic health—all of which can have an impact on real estate markets. However, barring any unforeseen economic downturns or policy changes that adversely affect housing markets, Wellington’s real estate prospects remain promising.
