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 in Tlell, British Columbia, is currently experiencing a steady growth phase. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This suggests a healthy demand for residential properties that has led to consistent appreciation in housing value. Similarly, the apartment sector is also showing positive momentum with a median price of $300,000 and a 2.1% year-over-year trend in appreciation.
A contributing factor to this trend could be the notable population growth of 7.1%, which indicates an influx of new residents or a demographic shift that can drive housing demand. The steady rise in property values is indicative of a stable investment environment and represents an ongoing opportunity for both homeowners and investors seeking assets with the potential for capital gains.
Investment Opportunities and Potential in Tlell
Given the current market trends, Tlell offers various investment opportunities. The consistent increase in property values presents potential for long-term capital appreciation for investors. The median house price point at $500,000 is accessible for many investors, especially those looking to enter the market without the capital required for larger metropolitan areas.
The apartment sector’s slower growth rate at 2.1% still presents an opportunity, particularly for those interested in rental income properties. As the population continues to grow, so does the potential demand for rental units, which may lead to increases in rental rates and yield attractive returns on investment.
As a burgeoning market, Tlell may also offer untapped niches such as vacation rentals or eco-friendly living solutions catering to specific demographics within the growing population.
Future Market Outlook for Tlell Real Estate
The future outlook of Tlell’s real estate market appears promising. Population growth is often a precursor to increased demand for housing, and with a significant growth rate of 7.1%, it is reasonable to anticipate continued demand across all housing types. Assuming that economic conditions remain favourable and infrastructure development keeps pace with population growth, we can expect ongoing stability or even further growth in property values.
In conclusion, careful monitoring of economic factors such as employment rates, interest rates, and regional development projects will be essential to understanding the sustainability of current trends. However, given the present data and positive indicators such as steady population increase and consistent property value appreciation, Tlell seems poised for continued real estate market success.
