Whaletown, 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 Whaletown, British Columbia, is currently experiencing steady growth. With a median house price of $500,000 and an increase of 3.5% year-over-year, the market is demonstrating resilience and continued demand for single-family homes. Similarly, the median apartment price stands at $300,000, which has also seen a positive trend with a growth of 2.1% year-over-year.
These figures are supported by a robust population growth rate of 7.1%, indicating that Whaletown is becoming an increasingly attractive destination for individuals and families looking to relocate or invest in property. The influx of new residents is likely contributing to the sustained demand for housing, pushing both home and apartment values upwards.
2. Investment Opportunities and Potential
The rising median prices for houses and apartments in Whaletown suggest that there is substantial investment potential in the local real estate market. For investors seeking long-term capital gains, purchasing residential properties could be a prudent decision given the positive pricing trends observed over the past year.
The significant population increase implies that rental properties may also offer lucrative opportunities. As more people move to Whaletown, the demand for rental accommodations will likely rise, potentially leading to higher rental yields for investors. Additionally, given the current growth rates in property values, those investing now may benefit from both rental income and appreciation over time.
3. Future Market Outlook
The future outlook for Whaletown’s real estate market appears optimistic. The combination of healthy property value increases and substantial population growth lays a strong foundation for ongoing demand in both the housing and rental markets.
If these trends continue, we can anticipate further property value appreciation. However, it is crucial to monitor local economic factors and any potential changes in interest rates or government policies that could impact the market dynamics.
In conclusion, Whaletown presents itself as an attractive market for both homeowners and investors alike. The current trends suggest that those entering the market now may see favorable returns on their investments in the coming years.
