Tsiigehtchic, Northwest Territories 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 (2025) | 15,000 |
| Previous Population (2020) | 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 Tsiigehtchic, Northwest Territories, the real estate market is currently characterized by stable growth. The median house price in the region is $500,000, which reflects a moderate year-over-year increase of 3.5%. This steady growth indicates a healthy demand that is consistent with regional economic stability.
The apartment sector displays a slightly lower growth rate, with the median apartment price at $300,000 and a year-over-year trend of 2.1%. This suggests that while the housing market is somewhat more dynamic, the apartment market is also expanding but at a more measured pace.
The local population has reached 15,000 with an impressive growth rate of 7.1%. This rapid increase suggests a burgeoning demand for housing which could sustain current upward pricing trends.
Investment Opportunities and Potential
The positive population growth in Tsiigehtchic presents significant investment opportunities. Given the current growth rates in housing prices, investors may find long-term capital gains in both houses and apartments. The higher growth rate for houses indicates potential for greater appreciation in this segment over time.
Furthermore, the ongoing population increase may lead to heightened demand for rental properties. Therefore, investing in rental apartments or houses could yield substantial returns through both rental income and property value appreciation.
Future Market Outlook
The future market outlook for Tsiigehtchic appears optimistic. With continued population growth and steady increases in property values, both housing and apartment markets are expected to maintain their upward trajectory.
However, investors should be aware of external economic factors that may impact these trends. It will be essential to monitor changes in local employment rates, infrastructure development, and regional policies which can influence both the supply and demand dynamics of the real estate market.
In conclusion, Tsiigehtchic’s real estate market shows promising signs for both current stability and future growth. As such, it holds considerable appeal for investors looking for opportunities within Canada’s northern regions.
