Tlell, 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 Tlell, British Columbia, the real estate market has been showing a steady increase in property values over the past year. The median house price is currently at $500,000, with a year-over-year growth rate of 3.5%. This suggests a healthy demand for single-family homes and a competitive market that could benefit sellers. On the other hand, the median apartment price stands at $300,000, with a slower growth rate of 2.1% year-over-year. This indicates that the market for apartments is less aggressive than that for houses but is still experiencing positive appreciation.
The population of Tlell has reached approximately 15,000 residents, reflecting a significant growth rate of 7.1%. This demographic expansion is likely contributing to the increasing demand for housing in the area and can be expected to continue influencing real estate dynamics positively.
Investment Opportunities and Potential
The data indicates promising investment opportunities in Tlell’s real estate market. The consistent rise in house prices coupled with robust population growth lays a solid foundation for potential gains from property investments. Investors should consider single-family homes as high-demand assets, given their stronger appreciation trend.
Apartments offer a more accessible entry point into the real estate market at a median price of $300,000. The slightly lower appreciation rate for apartments may appeal to investors looking for long-term rental income rather than short-term capital gains. Given the population growth, rental demand is likely to increase, potentially leading to higher rental yields over time.
Future Market Outlook
The future outlook of Tlell’s real estate market appears optimistic based on current trends and demographic factors. Assuming no significant economic disruptions occur, the steady population growth should continue to drive housing demand upward. With this in mind, both house and apartment prices are anticipated to maintain an upward trajectory.
It is important for investors and homeowners to stay informed about local developments that could influence property values, such as infrastructure projects, changes in zoning laws, or shifts in economic conditions. However, if current trends persist, Tlell’s real estate market could remain an attractive area for investment and homeownership for the foreseeable future.
