Wycliffe, 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 (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
The real estate market in Wycliffe, British Columbia, is currently experiencing steady growth. With a median house price of $500,000 and an annual appreciation trend of 3.5%, the local housing market shows resilience and a healthy demand for single-family homes. The median apartment price stands at $300,000 with a slower yet positive growth trend of 2.1% year-over-year. These statistics point towards a balanced market that caters to both homeowners and investors looking for long-term appreciation.
Investment Opportunities and Potential
Investors considering Wycliffe should find the market attractive due to its consistent growth rates in both housing and apartment sectors. The population has grown by 7.1%, indicating an influx of residents which could drive demand for rental properties. This demographic shift presents potential for rental income investments, particularly in the apartment sector where entry prices are more accessible at $300,000. Furthermore, the steady increase in property values suggests that investments made now could yield significant returns through capital appreciation over time.
Future Market Outlook
The future outlook for Wycliffe’s real estate market appears promising. Given the robust population growth rate of 7.1%, it is expected that the demand for housing will continue to rise, potentially pushing property prices upwards. The current trends suggest that both the house and apartment markets will maintain their growth trajectories, making Wycliffe an appealing location for both settling down and investing. However, prospective buyers and investors should keep an eye on economic indicators and local developments that might impact these trends.
