Thornhill, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $1,180,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.9% |
Apartment
| Median price | $685,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.5% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $900,000 |
| 3 bedrooms | $1,180,000 |
| 4 bedrooms | $1,400,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $550,000 |
| 2 bedrooms | $680,000 |
| 3 bedrooms | $800,000 |
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) | 2.0 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Thornhill, British Columbia, currently presents a robust growth trajectory with a median house price of $1,180,000, marking a 4% year-over-year increase. This upward trend showcases the demand for housing in the area. Meanwhile, the median apartment price stands at a more accessible $685,000, with a slightly lower growth rate of 2.5% year-over-year. The consistent appreciation in property values reflects a stable investment environment and points towards sustained interest in Thornhill’s real estate.
With a population of 16,000 and an above-average population growth rate of 3.2%, Thornhill is experiencing demographic expansion that may further fuel housing demand. This growth can be attributed to Thornhill’s attractive living conditions and economic opportunities which continue to draw new residents.
Investment Opportunities and Potential
The current market dynamics suggest that investment in Thornhill’s real estate could be fruitful. The steady increase in property values coupled with the area’s population growth indicates that there is potential for both short-term gains through property flipping and long-term returns via rental income or value appreciation.
Single-family homes, given their 4% annual price increase, appear particularly promising for investors looking for substantial equity growth. Apartments offer a more affordable entry point into the market and are well-suited for investors aiming to cater to professionals or small families seeking rental accommodations.
Furthermore, as Thornhill continues to develop its infrastructure and community amenities, properties within proximity to these enhancements are likely to see an uptick in value, presenting targeted opportunities for strategic investments.
Future Market Outlook
The future outlook for Thornhill’s real estate market remains optimistic. The combination of steady price growth, robust population increases, and ongoing community development projects are likely to sustain the housing demand. Assuming no significant economic disruptions occur, the local real estate market should maintain its upward trajectory.
The strategic focus on diversifying the local economy and improving transportation networks is poised to enhance Thornhill’s attractiveness as a residential destination. Investors should monitor these developments closely as they often precede increased demand for housing.
In conclusion, while current trends suggest continued market health, investors are advised to conduct thorough due diligence and consider local economic factors when making investment decisions. Staying informed on regional development plans will be key to capitalizing on future market shifts in Thornhill’s real estate landscape.
