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, is currently experiencing a period of modest growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing steady appreciation. This growth rate suggests a healthy demand for single-family homes and resilience in property values.
Similarly, the apartment sector is also witnessing an upward trend, albeit at a slightly slower pace. The median apartment price stands at $300,000, reflecting a 2.1% rise year-over-year. The less pronounced increase in apartment prices compared to houses may indicate a stronger preference among buyers for detached housing or potentially more significant investment in apartment developments.
The population of Craigellachie has reached 15,000 residents with a robust growth rate of 7.1%. Such demographic expansion is likely contributing to the increased housing demand and supporting the positive trends seen in the local real estate market.
Investment Opportunities and Potential
Considering the ongoing population growth and steady price appreciation, Craigellachie presents attractive investment opportunities. Investors looking to enter the market could benefit from the area’s consistent performance in property values, especially in the single-family home sector which has outpaced apartments in terms of price growth.
Additionally, rental properties may offer viable investment potential given the population increase. As new residents seek accommodation, demand for rental units could rise, potentially leading to higher rental yields for investors.
The current trends also suggest room for development projects that cater to the growing population’s housing needs. With careful market analysis and strategic site selection, developers could capitalize on gaps within the local housing market to deliver projects that align with consumer preferences.
Future Market Outlook
The future outlook for Craigellachie’s real estate market remains optimistic due to several key factors. The ongoing population surge implies continued demand for housing which should sustain both sales activity and property value appreciation over time.
However, it is essential to monitor external economic factors that may influence interest rates and borrowing costs. Changes in these areas could impact buyer affordability and consequently affect market dynamics.
In conclusion, while current trends point towards a healthy market with investment opportunities, stakeholders should remain vigilant of broader economic indicators that might shape future conditions. A measured approach to investment decisions based on comprehensive data analysis will be crucial for long-term success in Craigellachie’s real estate market.
