Craigellachie, 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 Craigellachie, British Columbia currently presents a stable growth environment. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This trend indicates a steady demand for single-family homes in the region. Similarly, the apartment sector has seen a growth with the median apartment price reaching $300,000, and witnessing a 2.1% year-over-year increment. The sustained growth in both housing segments is reflective of an overall healthy market.
Craigellachie’s population has experienced significant growth at a rate of 7.1%, bringing the total number to approximately 15,000 residents. This demographic expansion can be attributed to both natural population growth and inward migration, likely driven by the area’s economic opportunities and quality of life.
Investment Opportunities and Potential
The current trajectory of the Craigellachie real estate market suggests multiple avenues for investment opportunities. The consistent appreciation in property values offers potential for capital gains over time for investors in both residential homes and apartments. With single-family homes leading the charge in terms of price growth, they represent a particularly attractive option for long-term investment or rental income prospects.
The population increase also plays a crucial role in shaping investment potential. A growing populace often correlates with heightened demand for housing, which can lead to lower vacancy rates and potentially higher rental yields for investors. Given the current trends, areas within Craigellachie that cater to new residents or expanding families could be of particular interest to those looking to invest in real estate.
Future Market Outlook
The future outlook for Craigellachie’s real estate market remains positive based on current data trends and demographic shifts. Assuming that local economic conditions remain favorable and population growth continues at its current pace or higher, demand for housing is likely to remain strong. This bodes well for both homebuyers seeking long-term value retention and investors looking for sustainable rental markets or appreciation.
However, it is essential to monitor external factors such as interest rate changes, economic policies, and regional developments that may impact the market dynamics. Investors are advised to conduct thorough due diligence and consider diversification strategies to mitigate risks associated with market fluctuations.
In conclusion, Craigellachie offers solid opportunities grounded in consistent market performance and demographic trends that signal ongoing demand for housing options across different segments of the market.
