Tomslake, 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
As of the latest data, the real estate market in Tomslake, British Columbia, presents a robust median house price of $500,000 with a positive year-over-year growth trend of 3.5%. This indicates a steady increase in property values within the region, suggesting a healthy demand for single-family homes. Similarly, the market for apartments is also seeing growth, albeit at a slightly slower pace, with median prices at $300,000 and an appreciation trend of 2.1% over the same period.
The population of Tomslake has been on an upswing, currently standing at 15,000 residents which marks a substantial growth rate of 7.1%. This demographic expansion is likely contributing to the increased demand for housing and may be driving the upward trends in property values.
Investment Opportunities and Potential
With both segments of the housing market experiencing positive growth trends, Tomslake offers attractive investment opportunities. The consistent appreciation in house values may interest investors looking for long-term capital gains in the detached home sector. Meanwhile, the apartment market presents potential for those interested in catering to professionals or small families who prefer affordable housing options or are not yet ready to invest in purchasing a home.
The significant population growth further underlines the investment potential as it may lead to sustained demand for rental properties. Investors could capitalize on this by acquiring rental properties that could yield favorable returns through rental income and potential appreciation over time.
Future Market Outlook
The future market outlook for Tomslake remains optimistic based on current trends and demographic factors. If the population continues to grow at its current rate or higher, demand for housing is likely to remain strong. Assuming economic conditions remain favorable and no major disruptive events occur, both segments of the real estate market—houses and apartments—are expected to maintain their current growth trajectory.
However, prospective investors and homeowners should stay informed about local economic developments, changes in interest rates, and government policies affecting real estate. These factors can influence affordability and investment attractiveness. Continuous monitoring of these elements will be crucial for making well-informed decisions in the Tomslake real estate market.
