Westholme, 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 (2024) | 15,000 |
| Previous Population (2019) | 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
Current Market Conditions and Trends
In Westholme, British Columbia, the real estate market shows a steady increase in property values. With a median house price of $500,000 and an upward trend of 3.5% year-over-year, the market is experiencing healthy growth. Similarly, the median apartment price stands at $300,000 with a year-over-year increase of 2.1%. These statistics indicate a consistent demand for housing in the region.
The population of Westholme has grown to 15,000 residents with a significant growth rate of 7.1%. This demographic development suggests that the local economy is attracting new residents, which in turn may drive further housing demand. The current market conditions are favorable for both sellers, with appreciating property values, and buyers who are investing in a growing market.
Investment Opportunities and Potential
For investors considering Westholme as a location for real estate investment, the data presents promising opportunities. The consistent growth in property values suggests that investments made today have the potential for capital appreciation over time. With the population increasing at a notable rate, rental properties are likely to be in high demand, offering investors a chance to capitalize on rental income as well as long-term asset growth.
Further supporting investment potential is the rise in house prices outpacing apartments. This could indicate an opportunity for investors to focus on single-family homes which might yield higher returns on investment due to their higher appreciation rates.
Future Market Outlook
The future outlook for Westholme’s real estate market appears optimistic. Given the robust population growth and sustained increase in property values, it is likely that the demand for housing will continue to strengthen. Assuming there are no significant economic downturns or changes in migration patterns, investors can expect a continued upward trajectory in housing prices.
However, it’s important for prospective buyers and investors to stay informed about local developments that could impact the market such as changes in regional employment rates or government housing policies. Staying attuned to these factors will be key to making informed decisions about entering or exiting the Westholme real estate market.
