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Shoreacres, British Columbia Real Estate Market Data

Updated: Nov 2024

House

Median price $900,000
Monthly growth 1.1%
Quarterly trend 4.0%
Stock on market 0.5%

Apartment

Median price $450,000
Monthly growth 0.8%
Quarterly trend 2.5%
Stock on market 1.0%

Prices by Number of Bedrooms

Houses

Bedrooms Median Price
2 bedrooms $750,000
3 bedrooms $900,000
4 bedrooms $1,200,000

Apartments

Bedrooms Median Price
1 bedrooms $350,000
2 bedrooms $450,000
3 bedrooms $550,000

Demographics

Current Population (2025) 16,000
Previous Population (2020) 15,500
Population Change 3.2%
Total Private Dwellings 7,000
Occupied Private Dwellings 6,500
Population Density (per km²) 1.9
Land Area (km²) 2,500.5

Market Analysis





Shoreacres, BC Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Shoreacres, British Columbia is currently exhibiting stable growth. With a median house price of $900,000, the market has seen a consistent year-over-year increase of 4%. This trend reflects the area’s growing desirability and the overall health of the housing market. The median apartment price stands at $450,000, with a slightly lower growth rate of 2.5% year-over-year. This difference in growth rates suggests that single-family homes are in higher demand compared to apartments.

The population of Shoreacres is 16,000, and it has been growing at a rate of 3.2%. This steady population increase contributes to the ongoing demand for housing, both for ownership and rental purposes. The current trends indicate a balanced market where supply and demand are growing in sync, preventing extreme price inflations or market saturation.

Investment Opportunities and Potential

Investors considering Shoreacres will find potential in both the single-family home segment and multi-unit residential buildings like apartments. Given the steady appreciation rates for houses and apartments, long-term real estate investors may expect continued capital gains. Furthermore, the population growth rate surpasses national averages, indicating an influx of residents that could drive rental demand.

The differential in appreciation rates between houses and apartments might suggest that investment in single-family homes could yield higher returns due to their higher demand. However, apartments should not be overlooked as they offer a more accessible entry point into the property market for new investors or those with limited capital.

Future Market Outlook

The future outlook for Shoreacres’ real estate market appears positive. Assuming current economic conditions hold steady, we can anticipate ongoing demand for housing driven by population growth. The area’s robust 3.2% population increase forecasts a continued need for residential development to accommodate incoming residents.

The sustained growth in property values is likely to persist as Shoreacres maintains its appeal to both families looking for community living and individuals seeking investment opportunities. While unforeseen economic factors could impact these predictions, current indicators point toward a stable upward trajectory for Shoreacres’ real estate market.