Wolverine, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $625,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 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 | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Wolverine, British Columbia, is currently experiencing a period of steady growth. The median house price in the area stands at $525,000, which reflects a year-over-year increase of 4%. This consistent uptick in housing prices indicates a healthy demand for homes in the region. Similarly, the median apartment price has grown to $320,000, with a slightly lower growth rate of 2.5% year-over-year. This disparity in growth rates suggests that houses are becoming a more attractive investment compared to apartments.
The population of Wolverine has reached 15,500 residents and is growing at a rate of 3.3%. This influx of new residents is likely contributing to the increased demand for housing and can be seen as a positive sign for the continued health of the market.
Investment Opportunities and Potential
The current trends provide several attractive opportunities for investors. The steady increase in property values across both houses and apartments points towards strong potential for capital gains. Given that the house prices are growing at a faster pace than apartments, single-family homes may present particularly appealing investment opportunities.
With an expanding population, rental properties also offer potential for stable income returns. Investors could capitalize on the growing demand by investing in properties to rent out to newcomers or those unable to purchase homes immediately upon arriving in Wolverine.
Future Market Outlook
Looking ahead, the future real estate market outlook for Wolverine is optimistic. Population growth continues to fuel demand for housing, and if this trend persists, it can lead to sustained or even increased property value growth rates. However, it’s important to monitor economic factors such as employment rates, local industry performance, and interest rates as they will impact affordability and ultimately influence market dynamics.
Should economic conditions remain favorable and the current trends continue, Wolverine’s real estate market could see ongoing appreciation in property values. Investors who enter the market now might benefit from these conditions over the medium to long term.
