Shearwater, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Shearwater, British Columbia, is currently experiencing steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market shows signs of sustained demand for single-family homes. Similarly, the median apartment price stands at $300,000 with a more modest growth trend of 2.1% over the past year.
The population of Shearwater is on an upward trajectory with a notable growth rate of 7.1%. This demographic expansion is a positive indicator for real estate demand and contributes to the consistent appreciation in property values. The current market conditions suggest that Shearwater is witnessing balanced growth with a stable environment for both homeowners and investors.
Investment Opportunities and Potential
Investment opportunities in Shearwater are ripe due to the town’s growing population and consistent rise in property values. Investors can capitalize on the steady increase in housing prices which implies potential for capital gains over time. Additionally, the growing demand for rental accommodations driven by population growth may provide investors with strong rental yields and low vacancy rates.
Furthermore, the more modest growth in apartment prices presents an attractive entry point for investors looking to diversify their portfolio with multifamily units. Given the market dynamics, there may be long-term investment potential in developing or purchasing apartment complexes to cater to the increasing number of residents seeking affordable housing options.
Future Market Outlook
Looking ahead, the future market outlook for Shearwater appears optimistic. Population growth is expected to act as a catalyst for ongoing demand in both the housing and rental markets. If current trends continue, it is reasonable to anticipate further incremental increases in property values across various housing types.
As Shearwater continues to grow, infrastructure development and enhancements to local amenities are likely to follow suit, potentially increasing property attractiveness and values further. Investors and homebuyers should monitor local economic developments and urban planning initiatives as these factors will have significant implications on the future state of the real estate market in Shearwater.
