Granisle, 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 Granisle, British Columbia currently exhibits steady growth, as reflected by the median house price of $500,000, marking a 3.5% year-over-year increase. This consistent uptrend indicates a healthy demand for housing in the area. Similarly, the median apartment price stands at $300,000, with a more moderate increase of 2.1% year-over-year. This suggests that while apartments are gaining value, they are doing so at a slower pace than houses.
The population of Granisle has reached approximately 15,000 residents, with an impressive growth rate of 7.1%. This demographic expansion is likely contributing to the demand for housing and could be a driving force behind the observed price trends.
Investment Opportunities and Potential
The current upward trajectory in housing prices combined with significant population growth positions Granisle as an attractive location for real estate investment. With houses appreciating at a faster rate than apartments, investors might find single-family homes to be particularly lucrative assets over the long term. However, apartments could appeal to those looking for lower entry points into the real estate market or seeking rental income opportunities.
Given the robust population increase, there is potential for both rental and sale markets to thrive. Investors should consider factors such as local employment rates, infrastructure development, and community amenities when evaluating specific investment opportunities within the town.
Future Market Outlook
The future outlook for Granisle’s real estate market appears optimistic considering current trends and demographic data. If the population continues to grow at its current rate or higher, demand for housing is likely to remain strong or even increase. This could lead to a sustained rise in property values over time.
However, prospective investors and homeowners should monitor local economic indicators and be aware of any changes in national housing policies that might impact mortgage rates or borrowing conditions. Additionally, staying informed about regional developments that could influence property values will be crucial for making informed decisions in this dynamic market.
