Boothroyd, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $625,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $265,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| 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 Boothroyd, British Columbia is currently experiencing steady growth. The median house price is at $525,000, which represents a 4.2% year-over-year increase. This suggests a healthy demand for single-family homes in the region. Similarly, the median apartment price stands at $315,000, with a slightly more modest year-over-year growth of 2.5%. These figures indicate a stable and growing market that is attracting both homeowners and investors.
The population of Boothroyd has reached approximately 15,500 residents, reflecting a significant population growth of 3.3%. This influx of residents can be attributed to the area’s economic opportunities, attractive lifestyle offerings, and overall livability which are likely contributing factors to the consistent rise in property values.
Investment Opportunities and Potential
Considering the current market trends, Boothroyd presents numerous investment opportunities. The continuous increase in property values suggests that purchasing real estate now could yield considerable returns in the long term. The 4.2% annual growth for houses particularly highlights the potential for investment in single-family homes.
Apartments are also proving to be an attractive investment option with a steady appreciation rate of 2.5% per year. Given the rising population and demand for housing, investing in multi-family dwellings or developing new apartment complexes could cater to individuals looking for more affordable housing options and could offer investors sustained rental income.
The strong population growth further opens up opportunities for businesses that support real estate development such as construction services, home renovation businesses, and real estate management companies.
Future Market Outlook
The future outlook for Boothroyd’s real estate market remains positive. If the current trends continue, we can anticipate ongoing increases in property values driven by population growth and demand for housing. The consistent upward trajectory of the median house and apartment prices indicates a robust market that has yet to reach its peak.
Drawing from economic forecasts and demographic trends, it is reasonable to project that Boothroyd will continue to attract new residents looking for employment opportunities and quality living conditions. This will likely bolster the real estate market even further.
However, it is important for investors to keep an eye on factors such as interest rates, local economic policies, and national real estate regulations that could influence market dynamics. Careful analysis and consideration of these factors should be part of any long-term investment strategy in Boothroyd’s buoyant real estate environment.
