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 is currently experiencing stable growth. The median house price in the area stands at $500,000, reflecting a year-over-year increase of 3.5%. Similarly, the median apartment price has reached $300,000, with a more modest year-over-year rise of 2.1%. These trends indicate a consistent appreciation in property values within the region.
The local population has grown to 15,000, a significant growth rate of 7.1%, which could be contributing to the increased demand for housing. This demographic expansion may influence the market by tightening inventory levels and potentially driving prices upward if the supply does not keep pace with the growing population.
Investment Opportunities and Potential
Given the steady appreciation rates for both houses and apartments in Shirley, there is potential for investment opportunities. For investors looking at long-term capital gains, purchasing residential properties could be advantageous as the market shows resilience and continuous growth.
The strong population growth adds to the investment appeal, suggesting a sustained or increased demand for rental properties. Investors might consider this an opportune time to acquire rental units or develop new housing projects to meet this burgeoning demand.
Future Market Outlook
The outlook for Shirley’s real estate market remains positive based on current trends and demographic indicators. If the population continues to grow at its current rate or faster, housing demand is likely to increase correspondingly. This could maintain or even accelerate the current trend of property value appreciation.
However, prospective investors and homebuyers should remain vigilant about national economic factors, changes in mortgage rates, and local developments that may impact future market conditions. Careful monitoring of these variables will be key to understanding and predicting market shifts in Shirley.
