Winfield, British Columbia Real Estate Market Data
Updated: Nov 2024
House
Median price | $995,000 |
Monthly growth | 1.1% |
Quarterly trend | 2.7% |
Stock on market | 0.5% |
Apartment
Median price | $425,000 |
Monthly growth | 0.7% |
Quarterly trend | 1.8% |
Stock on market | 0.9% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $850,000 |
3 bedrooms | $995,000 |
4 bedrooms | $1,100,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $375,000 |
2 bedrooms | $425,000 |
3 bedrooms | $475,000 |
Demographics
Current Population (2025) | 16,000 |
Previous Population (2020) | 15,500 |
Population Change | 3.2% |
Total Private Dwellings | 7,000 |
Occupied Private Dwellings | 6,500 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Winfield, British Columbia, is currently characterized by a steady increase in property values. With a median house price of $995,000, the market has seen a year-over-year growth of 2.7%. This indicates a consistent demand for homes in the area, while not experiencing the overheated conditions seen in some other Canadian markets.
Apartments in Winfield are also gradually appreciating, with the median price standing at $425,000 and witnessing a 1.8% increase over the past year. This suggests that smaller properties and more affordable housing options are also attracting interest, potentially from first-time homebuyers or downsizers.
The population of Winfield is on an upward trajectory with a growth rate of 3.2%, reflecting the area’s attractiveness to both individuals and families seeking a balance between urban amenities and rural charm.
2. Investment Opportunities and Potential
Investors should take note of Winfield’s real estate potential due to its steady population growth and consistent appreciation of property values. The local housing market appears to offer opportunities for long-term investment, especially considering the moderate year-over-year price increases that prevent sudden market fluctuations.
The single-family home segment, with a median price just shy of $1 million, may appeal to investors looking for premium rental properties or those interested in capital gains through property value increase over time.
On the other hand, apartments present an attractive entry point for those aiming to cater to professionals or small families who prefer affordable living spaces without committing to homeownership. The relatively lower median price point coupled with steady appreciation suggests that apartments could provide stable rental income streams and potential for modest capital appreciation.
3. Future Market Outlook
The future outlook for Winfield’s real estate market appears cautiously optimistic. Given the solid population growth rate and gentle price trends observed over the past year, it is reasonable to anticipate continued demand for housing in both the sales and rental markets.
If current trends persist, we may expect similar modest increases in property values going forward. However, external factors such as changes in interest rates, economic conditions, and regional development plans should be monitored closely as they can have significant impacts on local real estate dynamics.
Investors and homeowners alike should consider both macroeconomic indicators and local factors when making decisions about entering or exiting the Winfield real estate market. As always, working with knowledgeable local real estate professionals is recommended to navigate this evolving landscape effectively.