Yarrow, 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
1. Current Market Conditions and Trends
The current real estate market in Yarrow, British Columbia, is experiencing a steady growth trend, reflecting in the median house price of $500,000, which has increased by 3.5% year-over-year. This increment indicates a healthy demand for housing in the area. Similarly, the median apartment price has seen a rise to $300,000, with a slightly more modest year-over-year increase of 2.1%. The consistent growth in property values suggests that the market is stable and capable of weathering economic fluctuations.
The population of Yarrow stands at approximately 15,000 residents with a substantial growth rate of 7.1%. This demographic expansion is a critical driver for housing demand and is likely contributing to the uptick in property values.
2. Investment Opportunities and Potential
Investors looking into the Yarrow real estate market can find potential in both the residential housing and apartment sectors. The ongoing upward trend in house prices combined with significant population growth suggests a strong rental market potential. Investors could capitalize on purchasing properties to rent out to long-term tenants or explore short-term vacation rentals due to Yarrow’s appeal as a picturesque community.
The slower growth rate in apartment prices compared to houses may offer an entry point for investors seeking more affordable investment opportunities with the anticipation of long-term appreciation. Additionally, new developments and constructions are aspects to watch for as they might cater to the increasing population’s housing needs.
3. Future Market Outlook
The future outlook for Yarrow’s real estate market appears positive. As population numbers continue to rise, it is reasonable to expect that demand for housing will remain strong, potentially pushing property values higher over time. The sustained growth rate in median prices for both houses and apartments indicates that there is ongoing confidence in the area’s real estate stability.
The key factors such as economic development, interest rates, and employment opportunities within Yarrow and surrounding regions will further influence future market conditions. Should these indicators remain favorable, investors and homeowners alike could see continued appreciation in their property investments.
In conclusion, while no market can be entirely predictable, current trends and data point towards a robust real estate environment in Yarrow that holds promise for both near-term gains and long-term investments.
