Whalley, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $480,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Whalley, British Columbia, is currently experiencing steady growth. The median house price stands at $520,000, marking a 4% year-over-year increase. This indicates a healthy and growing market, reflecting the demand for residential property in the area. On the other hand, apartments are seeing a slightly more modest growth in value with the median apartment price at $315,000, showing a 2.5% year-over-year trend. This difference in growth rates may suggest that houses are in higher demand compared to apartments or that there is a shift in buyer preferences toward more spacious living accommodations.
Investment Opportunities and Potential
The evolving dynamics of Whalley’s real estate market offer various investment opportunities. Given the solid growth in house prices and consistent appreciation for apartment values, investors can expect reasonable returns on real estate investments in Whalley. Moreover, with a population growth rate of 3.3%, which is relatively high, the increasing population can lead to higher demand for housing. Investors should consider both long-term capital gains from property appreciation and potential rental income due to an expanding local populace.
Future Market Outlook
The future outlook for Whalley’s real estate market appears optimistic. Factors such as ongoing population growth currently at 3.3% annually and consistent property value appreciation indicate that Whalley will likely continue to see an increase in housing demand. These trends suggest that the local real estate market has strong fundamentals that may support sustained growth over the coming years. However, investors should remain vigilant about economic factors and regional developments that could impact market conditions.
