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 (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
The real estate market in Whaletown, British Columbia is currently experiencing steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing healthy appreciation, indicating a strong demand for single-family homes. Similarly, the median apartment price stands at $300,000 with a slower yet consistent upward trend of 2.1% over the past year.
Whaletown’s population has grown by 7.1%, suggesting an influx of new residents and potential homebuyers. This demographic shift is likely contributing to the increased demand for housing and underpinning the positive pricing trends observed in both the house and apartment sectors.
Investment Opportunities and Potential
The investment potential in Whaletown is promising due to several factors. The town’s robust population growth signals a rising demand for residential properties, which could lead to higher rental occupancy rates and potentially attractive returns for investors. Single-family homes are particularly appealing investments given their stronger appreciation rate.
Investors should also consider the apartment sector which, despite its more modest price growth, may offer more accessible entry points into the market and appeal to a broader range of renters. As Whaletown continues to grow, strategic investments in multi-unit residential properties could yield long-term benefits.
Future Market Outlook
The outlook for Whaletown’s real estate market remains positive. The consistent growth in property values suggests that the market has not yet reached its peak and may continue to benefit from tight supply and high demand. The significant population increase implies sustained or even increased demand for housing in the near future.
However, investors should remain vigilant as markets can be affected by economic changes, interest rate fluctuations, and unforeseen global events. Regular monitoring of local economic indicators and real estate trends will be crucial for making informed investment decisions in Whaletown’s dynamic real estate environment.
