Benmychree, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.8% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $480,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 15,000 |
| Population Change | 1.3% |
| 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
Benmychree, British Columbia is currently experiencing a stable real estate market, as indicated by moderate year-over-year growth in property values. The median house price in the area is $525,000, which has increased by 4% from the previous year. This increment reflects a healthy demand for single-family homes within the region, likely fueled by favorable mortgage rates and the town’s attractive living conditions.
The apartment market is also showing signs of steady growth, with the median apartment price now at $320,000, marking a 2.5% rise year-over-year. This suggests that smaller residential units are becoming more desirable, potentially due to an influx of young professionals and smaller households looking for affordable housing options in Benmychree.
With a population of 15,200 that has grown by 1.33%, Benmychree’s real estate market is benefiting from the increased demand that comes with a growing population. The consistent population growth indicates a sustained interest in the area which could continue to drive the property market forward.
Investment Opportunities and Potential
Given the solid growth trends in Benmychree’s real estate market, investment opportunities are present and potentially lucrative. Investors looking to capitalize on the steady increase in property values may consider both long-term residential rentals and property flipping strategies, particularly in the single-family home segment where growth is most prominent.
Furthermore, with apartments experiencing a slightly lower but stable price trend, investors may find opportunities in purchasing and managing multi-unit properties to cater to those seeking more affordable housing or temporary residency. The key will be to identify properties that offer value-add potential through renovations or improved management practices.
Future Market Outlook
The future market outlook for Benmychree remains cautiously optimistic. The sustained population growth suggests continued demand for housing which should underpin property values. If economic conditions remain favorable, with low-interest rates and stable employment rates, we can anticipate further modest growth in both house and apartment prices.
However, investors and homebuyers alike should monitor local economic developments and broader national real estate trends to mitigate potential risks associated with market fluctuations. Factors such as changes in mortgage regulations, shifts in demographic patterns or significant alterations to the economic landscape could influence future market dynamics.
