Midway, 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
As of the latest market data, Midway, British Columbia exhibits robust real estate conditions. The median house price in the area is currently at $500,000, with a year-over-year increase of 3.5%. This growth rate points to a steadily appreciating housing market, which is likely influenced by both local demand and broader provincial economic factors.
In contrast, the median apartment price stands at $300,000, showing a more moderate year-over-year price trend of 2.1%. This suggests that while the apartment market is growing, it is doing so at a gentler pace compared to houses, perhaps reflecting a different demographic or investor interest.
The population of Midway is approximately 15,000 residents, with an impressive growth rate of 7.1%. This rapid population increase could be a driving force behind the demand for housing in the area and an indicator of a vibrant community with potential for further expansion.
Investment Opportunities and Potential
The current trends in Midway’s real estate market provide fertile ground for investment opportunities. The steady appreciation of house prices indicates a healthy demand for residential properties. Investors looking towards long-term capital gains might consider the single-family home market as an avenue for investment.
Additionally, the slower growth in apartment prices could represent an opportunity for entry-level investment or appeal to those interested in providing rental accommodations to residents who may not be in the market to purchase homes. With the substantial population growth in Midway, there is potential for an increased demand for rental units which could yield favorable returns on investment through rental income.
Future Market Outlook
The future outlook for Midway’s real estate market remains positive. Given the solid population growth rate and consistent property value appreciation, it is reasonable to expect ongoing demand for housing will continue to support market strength. However, investors should also consider economic factors such as employment rates, interest rates, and regional development plans that could impact market dynamics.
If current trends persist, potential investors can look forward to a market that offers both stability and growth opportunities. Monitoring local developments closely will be key to identifying specific areas within Midway that may outperform others as the community expands and evolves.