Yarrow, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $725,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.9% |
| Stock on market | 0.6% |
Apartment
| Median price | $420,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $600,000 |
| 3 bedrooms | $725,000 |
| 4 bedrooms | $850,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $350,000 |
| 2 bedrooms | $420,000 |
| 3 bedrooms | $500,000 |
Demographics
| Current Population (2024) | 16,000 |
| Previous Population (2019) | 15,500 |
| Population Change | 3.2% |
| 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 Yarrow, British Columbia, currently presents a stable environment with modest growth. The median house price stands at $725,000, marking a year-over-year increase of 2.9%. This indicates a consistent upward trend in property values for the area. Similarly, apartments have seen a positive change, with the median price reaching $420,000 and experiencing a slower yet steady year-over-year growth of 2%. Yarrow’s population has reached approximately 16,000 residents, reflecting a notable growth rate of 3.2%. The increasing population suggests an escalating demand for housing which could contribute to sustaining property value appreciation over time.
Investment Opportunities and Potential
Given the current market trends and demographic shifts, Yarrow offers appealing investment opportunities. The steady increase in property values coupled with significant population growth positions the market as potentially lucrative for long-term investments. For investors seeking immediate cash flow or rental income, apartments may be particularly attractive due to their lower median price point and ongoing demand from those not yet ready or able to invest in standalone houses. Additionally, given the consistent uptick in prices, both houses and apartments provide potential capital gains for future resale.
Future Market Outlook
The outlook for Yarrow’s real estate market remains optimistic. With a steady rise in property prices and continuous population growth, it is reasonable to anticipate ongoing demand for housing. If the local economy remains robust and supportive measures such as infrastructure development are implemented, these factors could further bolster the market’s strength. However, investors should monitor interest rate trends and economic policies that might affect affordability and borrowing costs. Overall, with careful consideration of macroeconomic indicators and local developments, Yarrow’s real estate market holds promise for sustained growth.
