Taylor, 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 in Taylor, British Columbia
The real estate market in Taylor, British Columbia is experiencing steady growth. With a median house price sitting at $500,000, the market has seen a year-over-year increase of 3.5%. This indicates a healthy demand for residential properties and a robust market trend for single-family homes. Comparatively, the median apartment price is currently at $300,000, with a more modest year-over-year growth of 2.1%. This suggests that while apartments are appreciating in value, the pace is slower than that of houses, potentially due to a stronger preference for detached homes or a more limited supply of multi-family housing units.
The population of Taylor stands at 15,000, with a significant growth rate of 7.1%. This rapid population increase is likely fueling housing demand and contributing to the appreciation of property values. The demographic trend suggests an influx of new residents, which may be attributed to economic opportunities or lifestyle factors attracting people to the area.
Investment Opportunities and Potential in Taylor, British Columbia
Considering the steady appreciation rates and population growth, Taylor presents viable investment opportunities. The consistent rise in median house prices indicates that investors could see reliable capital gains in the residential sector over time. Additionally, the increasing population signals a potential for rental market expansion—particularly for single-family homes—given their higher appreciation rate compared to apartments. Investors may also consider exploring development opportunities to meet the growing housing demand fueled by the town’s population surge.
The slower growth in apartment prices could represent an opportunity for investors looking to enter the market at a lower price point while still benefiting from the overall positive trend. However, it’s important to conduct thorough market research to understand local demand for different types of properties before making investment decisions.
Future Market Outlook for Taylor, British Columbia
The future real estate market outlook for Taylor appears promising. The combination of strong population growth and consistent property value appreciation suggests that demand will continue to be robust in the near future. Should these trends persist, both homebuyers and investors can expect continued healthy performance in property investments in Taylor.
However, external economic factors such as interest rates, employment levels within the region, and broader national economic trends must be monitored closely as they can significantly impact local real estate markets. Investors should also keep an eye on any local developments or policy changes that might affect supply and demand dynamics.
In summary, given current trends and statistics, Taylor’s real estate market holds potential for sustained growth and remains an attractive option for both homeownership and investment purposes.
