Killarney, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $1,500,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $800,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $1,200,000 |
| 3 bedrooms | $1,500,000 |
| 4 bedrooms | $1,800,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $700,000 |
| 2 bedrooms | $850,000 |
| 3 bedrooms | $950,000 |
Demographics
| Current Population (2025) | 18,000 |
| Previous Population (2020) | 17,500 |
| Population Change | 2.9% |
| Total Private Dwellings | 7,000 |
| Occupied Private Dwellings | 6,500 |
| Population Density (per km²) | 2.2 |
| Land Area (km²) | 3,000.0 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Killarney, British Columbia is experiencing steady growth. With a median house price of $1,500,000, the market has seen an increase of 4.2% year-over-year, reflecting a healthy demand for residential properties. The median apartment price stands at $800,000, with a more moderate appreciation of 2.5% year-over-year. This suggests that while houses are in greater demand, apartments remain a viable and slightly more accessible option for many residents.
The population of Killarney has been growing at a rate of 2.9%, which may be contributing to the rising housing demand. This demographic trend indicates a robust local economy that is likely attracting new residents and creating opportunities within the housing market.
Investment Opportunities and Potential
For investors considering Killarney’s real estate market, there are promising indicators. The consistent rise in property values signals a strong investment potential, especially in the single-family home segment where the annual growth rate is particularly notable. Apartments also present a good opportunity for those looking to enter the market at a lower price point or seeking rental income investments.
Given the positive population growth rate, there is potential for long-term capital appreciation as well as rental demand. Investors should also consider emerging neighborhoods and future infrastructure developments which could influence property values positively.
Future Market Outlook
Looking ahead, the real estate market in Killarney appears poised for continued growth. If current trends and population growth continue at their respective paces, it is reasonable to anticipate ongoing increases in both property values and rental market strength.
However, potential investors and homeowners should stay informed about local economic conditions and any policy changes that may affect the real estate market. Factors such as interest rates, employment rates, and any government incentives for homebuyers could significantly impact future trends.
