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
As of the latest market data, Westholme’s real estate landscape presents a stable and moderately growing market. The median house price in the area is currently standing at $500,000, marking a 3.5% increase year-over-year. This consistent growth indicates healthy demand and a robust housing market. Similarly, the median apartment price has seen a rise to $300,000, with a slightly slower year-over-year increase of 2.1%. The differential in growth rates suggests that houses are in higher demand compared to apartments, which could be attributable to demographic preferences or a trend towards more spacious living accommodations.
The population of Westholme has reached 15,000 residents with an impressive growth rate of 7.1%. This demographic expansion is supportive of the real estate prices as it may lead to increased demand for housing. The current trends suggest that the market is keeping pace with population growth without showing signs of overheating or supply constraints.
Investment Opportunities and Potential in Westholme
The investment opportunities in Westholme appear promising given the steady growth rates in property values. The consistent appreciation of house and apartment prices indicates that investments made today have the potential for capital gains in the long term. For investors looking at rental properties, the burgeoning population suggests a growing rental market with potential for stable yields.
Furthermore, with a median house price at $500,000 which is still accessible compared to larger urban centers, there is an opportunity for investors to enter the market before prices potentially escalate further. The lower median apartment price offers an entry point for investors with less capital who wish to cater to individuals or smaller families.
Future Market Outlook for Westholme
Looking ahead, Westholme’s real estate market appears poised for continued stable growth. The combination of steady price increases and significant population growth bodes well for both residential stability and investment potential. If current trends continue, investors can reasonably expect ongoing appreciation in property values.
It is important to monitor local economic developments and infrastructure investments as these factors could further influence the future market outlook by either bolstering sustainable growth or causing adjustments due to new dynamics introduced into the market.
In conclusion, Westholme’s real estate market presents a favorable environment for both homeowners and investors alike. With thoughtful analysis and strategic selection of properties, stakeholders can leverage current trends for future success in this vibrant community.
