Carmi, 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
Current Market Conditions and Trends
The real estate market in Carmi, British Columbia, is currently experiencing steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market shows moderate but stable appreciation. Similarly, the median apartment price stands at $300,000, with a growth trend of 2.1% over the past year. These figures suggest a healthy demand for housing in the area.
The population of Carmi has grown by 7.1%, indicating a burgeoning community that could further spur demand for housing. This population growth is likely contributing to the steady increase in property values and suggests a sustained interest in both the residential and rental sectors.
Investment Opportunities and Potential
Given the current trends, investment opportunities within Carmi are promising. The consistent rise in property values offers potential for capital gains for those looking to invest in residential real estate. For investors interested in income-generating assets, the growing population implies an expanding rental market with potential for competitive yields.
In addition to traditional residential properties, there may be opportunities to develop or invest in properties catering to specific demographics such as retirees or young professionals moving to the area. Diversification into multi-family units or townhouses could also be advantageous given the varied housing needs of an increasing population.
Future Market Outlook
The future outlook for Carmi’s real estate market appears positive. Assuming current economic conditions continue, the steady growth in property values is likely to persist. The robust population increase suggests ongoing demand for housing, which bodes well for both home sales and rental markets.
Moreover, as more people are drawn to Carmi’s quality of life and employment opportunities, we could expect an expansion of infrastructure and services that will further enhance property values. Investors and homeowners should monitor local developments closely as these factors will play a critical role in shaping the long-term trajectory of Carmi’s real estate market.
