Westwold, 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
Current Market Conditions and Trends
The real estate market in Westwold, British Columbia, currently showcases a stable growth pattern. With a median house price of $500,000 and an upward year-over-year trend of 3.5%, the residential sector is experiencing a healthy appreciation in property values. Similarly, the apartment market displays a consistent increase with a median price of $300,000 and a 2.1% year-over-year trend. This growth is supported by the area’s population of 15,000 which has seen a significant growth rate of 7.1%, indicating an increased demand for housing as more individuals and families settle in the region.
Investment Opportunities and Potential
In light of the current market conditions, Westwold presents attractive investment opportunities. The steady rise in house prices suggests that purchasing residential properties now could yield considerable returns over time through both equity growth and potential rental income. The apartment sector also offers promising prospects for investors looking for lower entry points and sustained demand from renters. Given the robust population increase, there is ongoing potential for new development projects to meet the growing housing demand, which could include single-family homes, townhouses, and multi-unit apartment complexes.
Future Market Outlook
The forecast for Westwold’s real estate market remains optimistic. The consistent growth in property values across both houses and apartments is indicative of a strong market with continued potential for appreciation. Furthermore, the impressive population growth suggests that the demand for housing will persist, underpinning the market’s stability and supporting future price increases. While external economic factors can influence market dynamics, current trends imply that Westwold’s real estate is poised for sustained growth making it an appealing region for both homebuyers and investors alike.
