Harropprocter, 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 Harrop-Procter, British Columbia is currently experiencing a steady growth, reflecting stability in property values. The median house price stands at $500,000, showing a healthy year-over-year increase of 3.5%. This trend indicates a consistent demand for housing in the area. Similarly, apartments are also seeing appreciation, with the median price at $300,000 and a more modest growth rate of 2.1% year-over-year. The population has grown to 15,000 residents, with a significant growth rate of 7.1%. This demographic expansion suggests an increasing demand for housing which is likely contributing to the positive trends in property values.
Investment Opportunities and Potential
The real estate market in Harrop-Procter shows promising investment opportunities given its steady price appreciation and robust population growth. Investors considering entering this market can expect potential capital gains due to the consistent upward trend in property prices. Residential properties, particularly houses that have experienced a higher appreciation rate, present an attractive opportunity for long-term investment. Furthermore, the strong population growth could signal a rising demand for rental properties, making the purchase of apartments for rental income another viable investment strategy.
Future Market Outlook
The future outlook of Harrop-Procter’s real estate market appears optimistic. With ongoing population growth and sustained increases in property prices, the market demonstrates potential for continued expansion. The key indicators suggest that both housing and apartment prices may maintain their upward trajectory as demand persists. Investors and homebuyers can be cautiously optimistic about the value retention and potential for appreciation of real estate assets in Harrop-Procter over the coming years.
