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Thornhill, British Columbia Real Estate Market Data

Updated: Nov 2024

House

Median price $1,050,000
Monthly growth 1.1%
Quarterly trend 2.4%
Stock on market 0.5%

Apartment

Median price $675,000
Monthly growth 0.7%
Quarterly trend 1.8%
Stock on market 1.0%

Prices by Number of Bedrooms

Houses

Bedrooms Median Price
2 bedrooms $850,000
3 bedrooms $1,050,000
4 bedrooms $1,300,000

Apartments

Bedrooms Median Price
1 bedrooms $600,000
2 bedrooms $675,000
3 bedrooms $800,000

Demographics

Current Population (2025) 20,000
Previous Population (2020) 19,500
Population Change 2.6%
Total Private Dwellings 8,000
Occupied Private Dwellings 7,600
Population Density (per km²) 2.5
Land Area (km²) 3,200.0

Market Analysis





Thornhill, British Columbia Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Thornhill, British Columbia currently presents a stable environment with modest appreciation in property values. With a median house price of $1,050,000, the market has experienced a 2.4% year-over-year increase. This suggests a healthy demand for housing in the area, likely supported by strong local economic fundamentals and desirable living conditions.

Apartments in Thornhill have also seen a consistent upward trend with a current median price of $675,000, which marks a 1.8% rise from the previous year. This slower rate of increase compared to houses could be indicative of a more balanced apartment market or potentially greater supply relative to demand.

The population of Thornhill stands at approximately 20,000, with growth recorded at 2.6%. The consistent population growth can be attributed to both natural population increases and migration to the area, which is a positive driver for housing demand.

Investment Opportunities and Potential

Investors looking into the Thornhill real estate market may find opportunities particularly in single-family homes due to their higher appreciation rates. The steady price growth reflects ongoing demand and suggests that investment in residential properties could yield solid returns over time.

The apartment sector offers potential as well, especially for those looking to cater to individuals or smaller households who may prefer more affordable or lower-maintenance living options. With the population growth trend, rental demand is likely to increase, which could translate into favorable conditions for landlords and those investing in rental properties.

Given that the market is not experiencing aggressive pricing surges, investors might find Thornhill appealing for its stability and potential for sustainable long-term growth rather than short-term speculative gains.

Future Market Outlook

The outlook for Thornhill’s real estate market remains cautiously optimistic. Assuming continued economic stability and further population increases, demand for housing is expected to be maintained or potentially grow. The current trends suggest that both the housing and apartment markets will continue experiencing moderate but steady price appreciation in the foreseeable future.

However, investors should monitor local developments regarding new housing policies or changes in economic conditions that could affect market dynamics. It’s also worth noting that infrastructure improvements or significant investments in local amenities could positively influence property values moving forward.

In conclusion, while no market is without risk, Thornhill offers attractive prospects for real estate investment grounded on current data and observable trends. Diligence and ongoing analysis will be key for any potential investor considering entering this market.