Tofino Real Estate Prices – Illustrative Prices
The information herein is meant to provide a snapshot of typical Tofino Real Estate Prices, including property type, square footage and number of bedrooms and bathrooms. Information is based on data as of October 5, 2019 and is provided for illustrative purposes only. Accordingly, as data is derived from listing prices it may not be indicative of sales prices.
Illustrative Tofino Condo Prices
Typical Tofino condo prices include:
- $500,000 will get you a two bedroom, one bathroom condo covering approximately 862 square feet.
- $750,000 affords a two bedroom, two bathroom condo covering approximately 1,293 square feet.
Age, location and amenities will vary but you can expect to purchase a condo close to the downtown core or close to the beach at the $500,000 price point, with more room and an extra bathroom at the $750,000 price point.
Illustrative Tofino House Prices
Entry level houses can be purchased for $1,000,000, which buys a three bedroom, three bathroom house covering approximately 2,179 square feet. In order to break into the waterfront housing market in Tofino, you’ll need a cool $2.5 million for a four bedroom, three bathroom house covering approximately 2,279 square feet.
Tofino Real Estate Prices – Year Over Year Price Changes
Tofino real estate prices saw strong growth from 2017 to 2018. In the waterfront category, the median price increased from $655,000 in 2017 to $1,400,000 in 2018 or a whopping 114%. In the non-waterfront category, the median price increased from $659,000 in 2017 to $1,000,000 in 2018 or 52% (source: Re/max 2018 Recreational Property Report).
Tofino real estate prices also saw strong growth from 2018 to 2019, especially in the waterfront category. For instance, the median price of waterfront properties increased from $1,400,000 in 2018 to $2,515,000 in 2019 or 80%. Alternatively, the median price decreased in the non-waterfront category from $1,000,000 in 2018 to $909,000 in 2019 or -9%. Finally, overall prices increased 35% across all categories (source: Re/max 2019 Recreational Property Report).
Primarily a summer destination, Tofino, BC is a true outdoor paradise.
From the crashing waves on one of Tofino’s many beaches to the impressive forests, nature is never far away. While the temperature can dip in the winter months, many travellers frequent Tofino’s beaches even in the winter months to take in the beautiful winter swells. If being one with nature and enjoying the outdoors is at the top of your list then you should definitely consider investing in Tofino. Relevant data includes:
- Closest major city: Victoria (315 km)
- Population: 1,932*
- Median age: 35.9*
- Median household income: $66,261*
- 2018 median sale price: $940,500^
- 2019 median sale price: $1,250,000^
- 2019/2018 Price (%): 32.9%^
*Statistics Canada. 2016 Census. ^ The Fenton Team. Ucluelet & Tofino Market Updates – April 2019.
Short-term rentals in Tofino are allowed in certain restricted areas. This includes the R1, R4, RA1-RA3, A1 – A4, and CD(EL) zones, and the Fred Tibbs condos.
If you would like more information on property prices in Tofino, BC, Canada, or in Canada’s other top vacation and recreational destinations, be sure to launch our interactive map to see what $500,000 to $1 million+ buys.