Thrums, British Columbia Real Estate Market Data
Updated: Nov 2024
House
Median price | $550,000 |
Monthly growth | 1.1% |
Quarterly trend | 4.0% |
Stock on market | 0.6% |
Apartment
Median price | $320,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.5% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $475,000 |
3 bedrooms | $550,000 |
4 bedrooms | $675,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $270,000 |
2 bedrooms | $360,000 |
3 bedrooms | $480,000 |
Demographics
Current Population (2025) | 15,500 |
Previous Population (2020) | 15,000 |
Population Change | 3.3% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,700 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Thrums, British Columbia, presents a stable growth environment characterized by a consistent increase in property values. The median house price currently stands at $550,000, with a year-over-year growth trend of 4%. This growth rate suggests a healthy demand for houses in the area that is likely to sustain in the near term.
In contrast, the median apartment price is set at $320,000, showing a slightly more modest year-over-year increase of 2.5%. The apartment market appears to be expanding at a steady pace, likely influenced by both local demand and investment interest.
The population of Thrums has reached approximately 15,500 residents, with an above-average growth rate of 3.3%. This demographic expansion is a positive indicator for the real estate market, as it often correlates with increased housing demand.
Investment Opportunities and Potential
The ongoing population growth in Thrums provides fertile ground for investment opportunities in the real estate sector. Housing demands driven by the increasing population suggest that both rental and purchase markets are primed for sustained activity.
Given the current trends, investors might find single-family homes to be particularly appealing due to their higher appreciation rate of 4% year-over-year. Rental properties in this category may provide strong income potential along with long-term capital gains.
Apartments offer a lower entry point at $320,000, combined with a steady growth trend. Investors seeking more affordable options or aiming to cater to singles and smaller households might find apartments to be an attractive investment.
Future Market Outlook
The future outlook for Thrums’ real estate market remains optimistic. With an ongoing population increase of 3.3%, the demand for housing is expected to maintain its upward trajectory. Assuming economic conditions remain favorable and no significant changes occur that could disrupt market stability, both house and apartment markets should continue to experience gradual growth.
The sustained demand paired with limited supply could further drive property values upward, especially in the single-family home segment. As such, Thrums represents a market with promising potential for both short-term investors looking at rental yields and long-term investors focused on capital appreciation.
Investors and homebuyers alike should monitor local development plans and any changes in migration patterns to ensure they stay ahead of emerging trends within the Thrums real estate landscape.