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Spillimacheen, 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 (2025) 15,000
Previous Population (2020) 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 in Spillimacheen, British Columbia

The real estate market in Spillimacheen, British Columbia is currently experiencing steady growth. With a median house price of $500,000, the market has seen an increase of 3.5% year-over-year. This consistent upward trend indicates a stable environment for homeowners and potential buyers. The apartment sector is also showing positive movement, though at a slightly lower rate, with the median apartment price sitting at $300,000 and witnessing a 2.1% year-over-year growth.

The population of Spillimacheen has reached 15,000 residents, with a robust growth rate of 7.1%. This demographic expansion is a strong indicator of a potential increase in housing demand, further fueling the real estate market. The combination of population growth and steady price appreciation suggests that the current market conditions are favorable for both sellers and buyers looking for long-term value.

Investment Opportunities and Potential in Spillimacheen

Investors considering Spillimacheen will find promising opportunities given the district’s solid market fundamentals. The continuous rise in median house prices presents an opportunity for capital gains over time. Additionally, the slower but stable growth in apartment prices could appeal to investors seeking more affordable entry points into the market or aiming to capitalize on rental income from a growing population.

The substantial population growth not only implies increased rental demand but also suggests that there may be room for new developments to accommodate this influx of residents. Strategic investments in both residential and rental properties could yield considerable returns as the town continues to expand.

Future Market Outlook for Spillimacheen Real Estate

Looking ahead, Spillimacheen’s real estate market exhibits promising signs for continued growth. The consistent increase in property values coupled with significant population expansion positions the town well for ongoing development. Should these trends persist, investors and homeowners can anticipate sustained appreciation in property values.

Furthermore, as more individuals relocate to Spillimacheen attracted by its economic prospects and quality of life, demand for housing is likely to remain strong. This bodes well for both the resale market and new housing developments. Consequently, the outlook for both short-term improvements and long-term investments remains optimistic.

In summary, careful monitoring of demographic trends and real estate statistics will be key in taking full advantage of what appears to be a fertile ground for investment and steady asset growth in Spillimacheen’s dynamic real estate market.