Shirley, 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 Shirley, British Columbia, currently displays stable growth, with the median house price sitting at $500,000, reflecting a year-over-year increase of 3.5%. This uptick in housing prices indicates a healthy demand for single-family homes in the area. Similarly, the median apartment price is currently $300,000, experiencing a somewhat slower yet consistent year-over-year growth of 2.1%. The steady rise in both housing segments suggests a balanced market where both buyers and sellers are actively participating.
Shirley’s demographic profile is also a telling factor in its real estate dynamics. With a population of 15,000, which has grown by 7.1% recently, it’s clear that Shirley is an attractive destination for new residents, likely influencing the housing demand positively.
Investment Opportunities and Potential
The ongoing positive trend in Shirley’s real estate prices presents appealing opportunities for investors. The consistent growth in median house and apartment prices indicates a robust investment potential in the residential sector. Investors might find particular interest in single-family homes due to their higher appreciation rate compared to apartments.
The significant population growth serves as a promising indicator for potential rental market expansions. Hence, investors may consider exploring rental properties or development projects to cater to the increasing housing needs of the growing community.
Future Market Outlook
The future outlook for Shirley’s real estate market remains optimistic given the current trends and demographic data. The steady increase in property values along with substantial population growth suggests that demand for housing will continue to rise. This can reasonably be expected to sustain or potentially even accelerate current appreciation trends over the medium term.
The local economy and infrastructure developments will play crucial roles in shaping the long-term health of Shirley’s real estate market. Provided these factors continue on a positive trajectory, alongside supportive urban planning policies that encourage sustainable growth, Shirley could maintain its reputation as an attractive location for both homeowners and investors alike.
