Mclure, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $550,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $550,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $270,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in McLure, British Columbia, is currently experiencing steady growth. With a median house price of $550,000 and an annual appreciation rate of 4%, the housing sector shows resilience and a consistent upward trend. Similarly, the apartment market has observed a rise in values, with a median price point of $320,000 and a year-over-year increase of 2.5%. The population growth rate of 3.3% suggests that the demand for housing is likely to remain robust due to the influx of new residents seeking accommodation in the area.
Investment Opportunities and Potential
Given the positive trajectory in property values and the ongoing population increase, McLure offers appealing investment opportunities for both residential and rental properties. The steady appreciation in house prices indicates a healthy market where investments are likely to continue growing in value. Investors should also note that with apartment prices rising at a slightly slower pace than houses, there may be potential for entering the market at a more accessible price point while still benefiting from the area’s overall real estate growth.
Future Market Outlook
The future outlook for McLure’s real estate market remains optimistic. The sustained population growth will drive demand for housing and can lead to tighter inventory levels, potentially pushing prices upward. As long as economic conditions remain favorable and interest rates do not rise significantly to curb borrowing capacity, the local real estate market is poised for continued growth. Investors and homebuyers should monitor key economic indicators closely but can be cautiously optimistic about the prospects of McLure’s real estate landscape.
