Willowvale, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.5% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $270,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Willowvale, British Columbia, is currently characterized by steady growth. The median house price stands at $520,000, which marks a 4% increase year-over-year. This growth indicates a healthy market that is consistently appreciating in value. Moreover, the median apartment price is observed at $320,000, with a slightly lower growth rate of 2.5% year-over-year. The modest yet positive trend in apartment prices suggests a stable investment opportunity for both homeowners and landlords.
The population of Willowvale has been growing at a robust rate of 3.3%, which is likely contributing to the demand for housing in the area and bolstering property values. The increased demand is expected to continue as more people seek residence in this community, potentially leading to further appreciation in home values.
Investment Opportunities and Potential
Investors looking into the Willowvale real estate market have several attractive opportunities. Given the steady climb in house prices and a strong population growth rate, residential properties offer potential for both capital gains and rental income. Single-family homes remain a popular choice due to their 4% appreciation rate, making them a solid investment for those looking to gain from market value increases.
Apartments represent a more accessible entry point for investors at a median price of $320,000. With the apartment prices trending upwards at 2.5% per year, investors can anticipate gradual equity growth coupled with the possibility of earning consistent rental income in an expanding market.
Future Market Outlook
The future outlook for Willowvale’s real estate market appears promising. The ongoing population growth of 3.3% is expected to sustain demand for housing, thereby supporting continued appreciation in property values. If current trends hold, the median house price may see sustained or increased levels of growth beyond the current 4% per annum.
In light of these factors, both homeowners and investors should feel optimistic about the long-term health of Willowvale’s real estate market. While future economic conditions and local developments could impact these projections, current indicators point towards a resilient and growing market.
