Zeballos, 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 (2024) | 15,000 |
| Previous Population (2019) | 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
Current Market Conditions and Trends
The real estate market in Zeballos, British Columbia, is currently experiencing steady growth. With a median house price of $500,000 and an annual increase of 3.5%, the market is showing healthy appreciation rates that are slightly above the national average. Apartments are also seeing a positive trend, with the median price set at $300,000 and growing at a slower pace of 2.1% year-over-year.
This consistent growth aligns with regional trends that point towards stable demand in both residential properties and multi-family units. The population of Zeballos has seen a significant uptick of 7.1%, which suggests that the area is attracting new residents, likely contributing to the housing demand and supporting the observed price increases.
Investment Opportunities and Potential
Investors considering the Zeballos real estate market may find promising opportunities given the current trends. The continuous population growth paired with steady property value appreciation indicates a healthy environment for real estate investment. Long-term investors might see significant returns on single-family homes, considering the higher year-over-year increase in median house prices compared to apartments.
Moreover, as more people move into the area, rental demand is expected to rise, potentially providing investors with an opportunity to capitalize on rental income from both houses and apartments. Given that apartment prices are increasing at a more moderate rate compared to houses, there may be an opening for entry-level investment with potential for equity growth over time.
Future Market Outlook
The future outlook for Zeballos’ real estate market appears cautiously optimistic. Assuming current economic conditions persist, such as low unemployment rates and continued inbound migration, it is reasonable to project further growth in property values. The ongoing population expansion can be expected to drive housing demand upwards.
However, investors should stay informed on local economic developments and provincial policies that could impact the real estate sector. Factors such as changes in interest rates, housing regulations, or unforeseen economic shifts could affect future market dynamics. Monitoring these elements closely will be crucial for anyone looking to invest or currently holding assets in Zeballos’ property market.
