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 | $450,000 |
| 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 moderate growth. The median house price in the area stands at $500,000, with a year-over-year increase of 3.5%. This trend suggests a stable market with consistent demand. Similarly, apartments are seeing a steady appreciation with the median price set at $300,000 and an annual growth rate of 2.1%. These trends indicate overall healthy market conditions with single-family homes appreciating slightly faster than apartments.
Shearwater’s population has grown by an impressive 7.1%, which is significantly higher than the national average. This influx of residents is likely contributing to the steady demand for housing in the area. Despite this growth, prices have not skyrocketed, suggesting that supply is keeping pace with demand or that there might be external factors moderating price acceleration.
Investment Opportunities and Potential
The current stability of Shearwater’s real estate market combined with its growing population presents attractive investment opportunities. Given the solid year-over-year price increases for both houses and apartments, investors could expect continued capital appreciation in the medium to long term. The higher growth rate for houses suggests that they may be a particularly promising investment vehicle in Shearwater.
Additionally, as population growth does not show signs of slowing down, rental demand is expected to rise proportionately. This could translate into higher rental yields for investors looking to purchase residential properties to lease.
Future Market Outlook
The future outlook for Shearwater’s real estate market appears positive. With a robust population growth rate far exceeding many other regions, demand for housing should remain strong. If the local economy continues to support the incoming population and infrastructure development keeps pace with residential needs, we can anticipate ongoing market growth.
The sustained and controlled appreciation rates for both houses and apartments suggest that Shearwater’s market is less susceptible to volatile swings than other markets with more aggressive price movements. As such, it can be seen as a relatively safe investment option with reasonable expectations for continued appreciation and potential gains from rental income.
In conclusion, while no market is without risk, Shearwater presents as a sound choice for real estate investors seeking moderate but steady growth prospects in both property values and rental potential.
