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Winfield, 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






Winfield, British Columbia Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Winfield, British Columbia is currently experiencing a period of steady growth. The median house price in the area is $500,000, which marks a year-over-year increase of 3.5%. This indicates a healthy demand for housing, likely driven by both local factors and broader provincial economic conditions.

In terms of apartments, the market is also showing positive movement. The median apartment price stands at $300,000, with a more modest year-over-year growth of 2.1%. This slower growth rate in comparison to houses suggests that there may be a slight preference for detached homes or potentially a greater supply of apartments.

The population of Winfield has reached 15,000 residents and has seen significant growth at a rate of 7.1%. This influx of new residents is likely contributing to the increased demand in the housing market.

Investment Opportunities and Potential

The consistent rise in property values indicates that Winfield presents promising investment opportunities. The steady increase in the median house price suggests that single-family homes are particularly attractive investments at this time. Investors should note the robust year-over-year growth rate as an opportunity for potential capital gains.

Apartments offer a more accessible entry point into the real estate market due to their lower median price point. While they have experienced a slower growth rate compared to houses, they remain an attractive option for investors looking to cater to individuals or small families who prefer multi-family living situations or cannot afford higher-priced detached homes.

The substantial population growth further enhances the investment potential in Winfield. A growing population often translates into increased rental demand, which could benefit landlords and real estate investors focusing on income-generating properties.

Future Market Outlook

Given current trends and population growth rates, the future outlook for Winfield’s real estate market appears optimistic. Continued population increases are likely to sustain demand for housing across all types – maintaining upward pressure on prices over time.

If current economic conditions persist, and with interest rates influencing borrowing costs, we may expect continued moderate growth in property values. Prospective investors should monitor these factors closely as they could impact both short-term affordability and long-term investment returns.

In conclusion, Winfield’s real estate market exhibits solid fundamentals with ongoing demand underpinned by strong population growth. This makes it an appealing destination for both homebuyers and investors seeking stability and potential for appreciation in property values.