Woodfibre, 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 | 0.5% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.8% |
| Stock on market | 1.0% |
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 | $270,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
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 Woodfibre, British Columbia, is currently experiencing a phase of steady growth. The median house price stands at $520,000, reflecting a year-over-year increase of 4%. This indicates a consistent upward trend in housing values, suggesting a stable environment for homeowners and investors alike. Similarly, the apartment market is also growing, albeit at a slower pace, with the median apartment price at $320,000 and an annual appreciation of 1.8%.
The population of Woodfibre has reached approximately 15,500, with a healthy growth rate of 3.3%. This demographic expansion supports the demand for housing and can be seen as a driving factor behind the rising property values in the area.
Investment Opportunities and Potential
Given the progressive increase in property values and the robust population growth, Woodfibre presents several attractive investment opportunities. The consistent rise in house prices suggests that purchasing residential property could yield profitable returns over time. Investment in apartments could also be considered a viable option due to their more modest price point and steady appreciation rate.
The continuous influx of residents to Woodfibre amplifies the potential for rental properties to provide sustained income streams for investors. The current trends indicate that both demand and rental rates are likely to continue their upward trajectory, further enhancing the appeal of investment properties in this market.
Future Market Outlook
The future outlook for Woodfibre’s real estate market remains optimistic. The ongoing population growth is expected to persist as more people seek residency in this region, which is likely to maintain pressure on both the rental and purchase markets. Assuming no significant external shocks to the economy or drastic policy changes affecting real estate, one can foresee a continuation of the current trends with gradual price increases across both houses and apartments.
Investors should monitor local developments closely, such as infrastructure projects or changes in industry that could impact employment and housing demand. Furthermore, given global economic uncertainties including interest rate fluctuations and supply chain issues, staying informed on broader economic conditions that can affect local real estate is crucial.
